1. What is CRS?

'CRS' is the abbreviation for the ‘Common Reporting Standard’. The CRS is an initiative by the Organisation of Economic Co-Operation and Development* (OECD) that encourages the exchange of information on a global scale between revenue authorities. This initiative seeks to identify clients who appear to have tax obligations, tax liabilities or tax residencies outside the country of onboarding.

Ultimately Common Reporting Standard (CRS) was designed with the intention to help fight against tax evasion and protect the integrity of tax systems.

*For any defined terms please see the Table of terms and definitions.