Common Reporting Standard Explained

Common Reporting Standard Explained

CRS seeks to obtain tax information about individuals and entities in participating jurisdictions

Countries have dramatically increased their efforts to prevent tax avoidance, in particular through accounts and structures in offshore jurisdictions. Inspired by the Foreign Account Tax Compliance Act (FATCA), the Group of Twenty (G20) (an international forum of the governments from 20 major economies) committed to move towards implementing an automatic exchange of information targeting tax fraud and evasion. Ultimately, the G20 embraced the Organization for Economic Cooperation and Deve

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