Transcription of What is CRS? - STANLIB
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What is CRS? - STANLIB
what is CRS? Common Reporting Standard (CRS) is a global standard developed by the Organisation for Economic Co-operation and Development (OECD) for the automatic exchange of financial account information between tax authorities worldwide. Over 80 countries (participating countries) including South Africa (SA) have agreed to exchange information under CRS, with a planned, phased approach implementation. Current list of countries that intend to adopt CRS: Under CRS, South African financial institutions including STANLIB are required to identify and report on certain accounts held directly or indirectly by tax residents in any of the overseas participating CRS countries. The reportable information is required to be sent to the South African Revenue Services (SARS), who will then share it with the relevant overseas tax authorities where the account holders are identified as being tax resident.
What is CRS? Common Reporting Standard (CRS) is a global standard developed by the Organisation for Economic Co-operation and Development (OECD) for the automatic exchange of financial
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