CRS is a standard for the automatic exchange of information on financial accounts of residents of countries belonging to the Economic and Development Organization (OECD) countries that have joined the exchange system. The CRS Act is a regulation that obliges financial institutions (including brokers) to verify clients in terms of their tax residence and to report residents from other countries to the tax authorities. The Act provides for the obligation to provide the tax administration with information on reportable accounts, i.e. in simplified terms, on accounts belonging to a person with foreign tax residence.
Note: We are not currently enrolled in the CRS program for your trading entity.