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ARTICLE · 02 MARCH 2016

Common Reporting Standard

Carey Olsen
Carey Olsen
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Carey Olsen

Carey Olsen

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The Common Reporting Standard (CRS) has been developed by the Organisation for Economic Co-operation and Development (OECD) as the new global standard for the automatic exchange of information (AEOI) to improve tax compliance and counter tax evasion.

GuernseyCorporate/Commercial Law
Daniel O'Connor
Daniel O'Connor
Robert Milner
Robert Milner
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What is the CRS?

The Common Reporting Standard (CRS) has been developed by the Organisation for Economic Co-operation and Development (OECD) as the new global standard for the automatic exchange of information (AEOI) to improve tax compliance and counter tax evasion. Over 90 jurisdictions have already signed up to the CRS (Participating Jurisdictions). Early adopters include the Crown Dependencies (Jersey, Guernsey and the Isle of Man)and many British Overseas Territories (including the Cayman Islands, the British Virgin Islands and Gibraltar).The Taxation (Implementation) (International Tax Compliance) (Common Reporting Standard) (Jersey) Regulations 2015 (the Regulations) implement Jersey's obligations under the CRS and came into effect on 1 January 2016.

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