What is CRS?

The OECD (Organisation for Economic Cooperation and Development) has followed the US Government’s introduction of FATCA by expanding the scope of the reporting. This is referred to as the CRS – the Common Reporting Standard. Whereas the FATCA legislation is aimed at preventing US tax evasion, the CRS is aimed at preventing tax evasion among all the countries – including the UK - that are part of the OECD.

- Submitted on 15th Feb 2020

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