Examples of Common Reporting Standard in a sentence
Solely for the purposes of this paragraph (6), “FATCA” shall include any amendments made to FATCA after the date of this Agreement and any non-U.S. legislation, rules or administrative guidance notes adopted by a Governmental Authority pursuant to an intergovernmental agreement entered into with the United States with respect to FATCA, or that give effect to the OECD Standard for Automatic Exchange of Financial Account Information in Tax Matters-the Common Reporting Standard.
The Subscriber also agrees to complete the appropriate form of Common Reporting Standard Self Certification, available in Appendix I hereto, to enable each Company to comply with its obligations under the Organization for Economic Cooperation and Development’s Common Reporting Standard (“CRS”).
The Administrator also provides compliance services with respect to the US Foreign Account Tax Compliance Act and to the Common Reporting Standard as developed by the OECD pursuant to the Administration Agreement.
On the basis of this law, a strong push was made in 2014 toward the adoption of new Common Reporting Standard (CRS) for automatically exchanging financial information for tax purposes.
Common Reporting Standard Similar to FATCA, under the Organisation for Economic Co-operation and Development (“OECD”) initiative for the automatic exchange of information, many countries have committed to automatic exchange of information relating to accounts held by tax residents of signatory countries, using a common reporting standard.