Tag: IR1048

As an accountant you should consider whether you or your clients have obligations under the Common Reporting Standard (CRS).

The Common Reporting Standard (CRS) is an Organisation for Economic Co-operation and Development (OECD) initiative to combat global tax evasion.

Country-by-country reporting requirements have been published by the OECD as part of an agreed international tax reform package addressing base erosion and profit shifting. 

As a Discretionary Investment Management Services (DIMS) provider, Custodian used by a DIMS provider, or Customer of a DIMS provider, you should consider whether you have obligations under the Common Reporting Standard (CRS).

This guide helps you with the Common Reporting Standard as a reporting NZ financial institution family trust and/or an account holder.

The CRS is a global framework for the collection, reporting, and exchange of financial account information about people and entities investing outside of their tax residence jurisdiction.

The CRS is a global framework for the collection, reporting and exchange of financial account information about people and entities investing outside of their tax residence jurisdiction.

If a financial institution is a Reporting NZFI, it must identify accounts held by account holders who are foreign tax residents and, in certain circumstances, entities that are controlled by foreign tax residents.