Common Reporting Standard (CRS) – Automatic Exchange of Information
Common Reporting Standard (CRS) developed by the OECD and calls on jurisdiction to obtain and automatically exchange information with other jurisdictions on an annual basis.
CSR sets out the financial account information to be exchanged, the financial institutions required to report and the different types of accounts and taxpayers that are covered. It should be noted that there will be no exchange of information on active entity accounts.
For more information click on: CRS