COMMON REPORTING STANDARD (CRS) 
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WHAT is AEOI?
  • A system that involves the transmission of financial account information from involved countries (e.g. HK, SG, BVI, Cayman) to an overseas tax jurisdiction that has come into the AEOI Agreement.

  • Financial Information only relates to the tax residents of the jurisdiction of AEOI partners.

  • Malaysia first exchange on 31st July 2018

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WHY AEOI?
  • Enhance tax transparency

  • To exchange the information for tax purposes which can enhance tax transparency and combat cross-border tax evasion.

  • Combat cross border tax evasion

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What is Common Reporting Standard (CRS)?

It refers to the Standard of Automatic Exchanged of Financial Account Information issued by OECD (Organisation for Economic Co-operation and Development) Council in 2014 to ensure the consistency in exchange of financial account information

Who will be affected by CRS? 

Individual or company with no Tax ID who has:

• a custodial account

• depository account

• any cash value insurance contract and any annuity contract

• any equity interest or debt interest in the financial institution

What do you need to do with CRS?

 

If you are concerned about the CRS, the sharing of information with tax authorities, have gains or income that you have not declared, or simply want peace of mind that everything complies with legal, we can help you. We can assist you in identify all of the accounts and information to be reported under each regime. After all carrying out regular analyses to ensure that applicants are up to date with any regulatory changes, providing a cost-effective solution.

Assessment

Whether AEOI has an impact on

you/ your business

Discussion

With us if necessary  and

come out an effective solution

Planning

ahead of the

company structure

Questions about Common Reporting Standard (CRS?

No worry! Get a free consultation from us now!
 

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6018 - 777 2848

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