CRS was created in 2016 by the Organization for Economic Cooperation and Development (OECD) with the objective of increasing tax transparency among the countries who have signed the agreements.
Financial Institutions are required by CRS to provide information on their account holders to the tax authorities in the country where the account holder resides. The account holder's name, address, taxpayer identification number (TIN), and account balance must all be provided.
CRS is used by Financial Institutions in over 120 countries and has been shown to increase tax transparency globally, as well as prevent tax evasion by individuals and corporations with foreign accounts.
UAB is not authorized to offer tax advice. For any tax related questions, you are kindly advised to contact your professional tax adviser or refer to the OECD website
Which CRS form the Customer should fill?
CRS Individual Self-Certification Form
CRS Entity Self-Certification Form
CRS Controlling Person Self-Certification Form
For additional information please click here
Please note: The details provided on this page are intended to help understand the CRS requirements and are not intended to serve as tax advice. If you are uncertain of your CRS status or the impact of this regulation, please consult a professional tax advisor.
