Common Reporting Standard

The Common Reporting Standard (CRS) has been initiated by the Organization for Economic Cooperation and Development (OECD) aiming at improving international tax compliance and preventing tax evasion, through the automatic exchange of information between the countries that implement CRS.

As of December 2015, 96 jurisdictions (including Cyprus) are adopting CRS. Cyprus Government was amongst the 58 jurisdictions that agreed to early adoption of the CRS and will start collecting information relating to the tax residence(s) and tax identification number(s) starting from January 1, 2016. 

For more information about the Common Reporting Standard, please visit the official website of OECD The Common Reporting Standard and its implementation in Cyprus - Association of Cyprus Banks