TaxGuided
All glossary terms

Glossary term

Common Reporting Standard (CRS)

OECD framework for automatic exchange of financial account information among participating jurisdictions.

Related terms

1

Jurisdictions

global

Definition

The CRS requires participating financial institutions to identify accounts held by tax residents of CRS-participating jurisdictions and report account information annually to their local tax authority for automatic exchange with the account holder's home jurisdiction.

Examples

  • A Swiss bank reports under CRS to provide information to other CRS jurisdictions about its account holders.

Translations

ESEstándar Común de Información
ZH共同申报标准
DEGemeinsamer Meldestandard
FRNorme commune de déclaration
JA共通報告基準

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Important disclaimer

This library is for general tax education only. Always verify filing obligations, due dates, and tax consequences against the cited primary source or with a qualified tax professional.