- The OECD maintains and regularly updates a list of CRS-related Frequently Asked Questions. These FAQs were received from business and government delegates and answers to such questions clarify the CRS and assist in ensuring consistency in implementation.
Maintaining the integrity of the CRS
The CRS was designed with a broad scope in terms of the financial information to be reported, the Account Holders subject to reporting and the Financial Institutions required to report, in order to limit the opportunities for taxpayers to circumvent reporting. It also requires that jurisdictions, as part of their effective implementation of the Standard, put in place anti-abuse rules to prevent any practices intended to circumvent the reporting and due diligence procedures.
Have your say!
To further preserve the integrity of the CRS, it is now possible to share information on potential CRS avoidance schemes, including on an anonymous basis. This disclosure facility is part of a wider structured process the OECD has in place to deal with schemes that purport to avoid reporting under the CRS, consisting of the following three pillars: