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Common Reporting Standard (CRS)

Common Reporting Standard (CRS) is the new way to exchange information between countries and demonstrates a worldwide approach to international regulatory and tax compliance.

The Common Reporting Standard (CRS) developed by the Organisation for Economic Cooperation and Development (OECD) is the result of the consistent development of the exchange of information of tax-related data among governments. The exchange of information is intended to enable to the correct taxation of income and assets, and is an effective tool against tax evasion. The CRS involves the automatic exchange of information and replaces the previous model of information exchange on request as the new, globally dominant standard. Switzerland and more than 100 other countries plan to introduce the Common Reporting Standard (CRS) as at 2017 or 2018. In concept, it is based on FATCA  and envisages an annual exchange of data between tax authorities. The tax authorities receive the corresponding data from the local financial institutions.

Although the Common Reporting Standard (CRS) follows a model OECD agreement, in practice implementation involves a lot of details and specific factors that have to be taken into account. This requires an early analysis of the individual situation by our tax, legal and accounting experts. Careful legal and tax planning is based on efficient accounting preparation of the data that is to be transferred via modern digital tools. These are essential for the timely, cost-effective and factually correct transfer of the relevant data.

We can support you in fulfilling your obligations in the following ways:

  • Classification of entities for CRS
  • CRS impact assessment to include recommendation if remedial action is required
  • Identification of reportable accounts and the information to be reported under each regime
  • Due diligence processes and compliance programs: assistance in implementation
  • Timely reporting to relevant tax authorities

Do not hesitate to contact our experts.

Latest Releases

1 June 2017
KENDRIS is your leading Swiss partner for family office, trust and fiduciary services, Swiss and international tax and legal advice, accounting, outsourcing and art management for private and corporate clients. The Image Brochure is available in the following languages: German, English, French, Russian, Swedish, Spanish and Chinese.
24 August 2016
Anna Szkudlarek
KENDRIS offers a full suite of AEoI services with seamless integration into the KENDRIS CRS and FATCA platform. Our services include initial analysis of how AEoI impacts structures and entities under your administration. Our technical team of experts is there to help you in your regulatory compliance obligations. Our services are tailored to your particular needs and circumstances.