Common Reporting Standard definition

Common Reporting Standard means the standard for automatic exchange of financial account information in tax matters (which includes the Commentaries), developed by the OECD, with G20 countries;

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Common Reporting Standard means the standard for automatic exchange of financial account information in tax matters (which includes the Commentaries), developed by the OECD, with G20 countries; Considérant que les Juridictions ont mis en place ou devraient avoir en place lors du premier échange (i) les protections adéquates pour faire en sorte que les renseignements reçus conformément à cet Accord restent confidentiels et soient utilisés uniquement aux fins prévues par la Convention, et (ii) les infrastructures nécessaires à un échange efficace (y compris les processus garantissant un échange de renseignements en temps voulu, exact et confidentiel, des communications efficaces et fiables, et les moyens permettant de résoudre rapidement les questions et préoccupations relatives aux échanges ou aux demandes d’échanges et d’appliquer les dispositions de la section 4 du présent Accord) ; Considérant que les Autorités compétentes des juridictions ont l’intention de conclure un accord afin d’améliorer le respect des obligations fiscales à l’échelle internationale sur la base d’échanges automatiques en application de la Convention, sans préjudice des procédures législatives nationales (s’il y en a), dans le respect du droit de l’UE (s’il est applicable) et sous réserve de la confidentialité et des garanties prévues par la Convention, y compris les dispositions qui limitent l’utilisation des renseignements échangés en vertu de celle-ci ; Les Autorités compétentes sont convenues des dispositions suivantes :

Common Reporting Standard means the standard for automatic exchange of financial account information developed by the Organisation for Economic Co- Operation and Development as amended from time to time by the Organisation for Economic Co-operation and Development, set out in Schedule 1;

Examples of Common Reporting Standard in a sentence

• Based on the Common Reporting Standard (CRS), Dutch law requires financial institutions to determine the tax residence of their clients and to provide details of tax residents of CRS countries to the Dutch tax authorities.

• Notwithstanding the foregoing sentence, information is only required to be exchanged with respect to a calendar year if both Competent Authorities have this Agreement in effect and their respective Jurisdictions have in effect legislation that requires reporting with respect to such calendar year that is consistent with the scope of exchange provided for in Section 2 and the reporting and due diligence procedures contained in the Common Reporting Standard.

• A Competent Authority will notify the other Competent Authority when the first-mentioned Competent Authority has reason to believe that an error may have led to incorrect or incomplete information reporting or there is non-compliance by a Reporting Financial Institution with the applicable reporting requirements and due diligence procedures consistent with the Common Reporting Standard.

More Definitions of Common Reporting Standard

Common Reporting Standard means the common standard on reporting and due diligence for financial account information developed by the Organisation for Economic Co- operation and Development, bilateral and multilateral competent authority agreements, intergovernmental agreements, and treaties facilitating the implementation thereof, and any law implementing any such common standard, competent authority agreement, intergovernmental agreement, or treaty in each case, as amended from time to time;

Common Reporting Standard means the OECD Common Reporting Standard, or any similar or successor information standard or legislation or any information standard or legislation developed or made by any other jurisdiction in connection with it, including, without limitation, the UK International Tax Compliance Regulations 2015 and any orders, regulations or other subordinate legislation made thereunder;

Common Reporting Standard or “CRS” means the Common Reporting Standard set out in Annex 5 of the Standard for Automatic Exchange of Financial Account Information in Tax Matters, as amended from time to time, and has been codified under Schedule 3;

Common Reporting Standard means any provision of the International Tax Compliance Regulations 2015 and any orders, regulations or other subordinate legislation made thereunder relating to the obligations on investment companies to share information with the tax authorities in the United Kingdom;

Common Reporting Standard means the Standard for Automatic Exchange of Financial Account Information set forth by the Organisation for Economic Co-Operation and Development.

Common Reporting Standard means the reporting and due diligence standard for the automatic exchange of financial account information;

Common Reporting Standard means the standard for automatic exchange of financial account information developed by the Organisation for Economic Co- Operation and Development as set out in Schedule 31 but, if that standard is subsequently amended by any modification made to it and published by the Organisation for Economic Co-Operation and Development, it means that standard as so amended;