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CRS Newsletter

Transparency to an evolving landscape

​On January 1, 2016, the Common Reporting Standard (CRS) regime came into effect in several jurisdictions. Similar to FATCA, the CRS regime will differ among the implementing jurisdictions, and change with constant developments. In an attempt to provide transparency to this evolving landscape, a summary of updates is distributed via a monthly CRS newsletter. The monthly newsletter contains key updates on CRS signatories, regulations, guidance, and other related news.

CRS updates: April 2018

An overview of key updates on CRS signatories, regulations, guidance, and other related news from the respective country competent authority websites.

OECD Updates

The OECD issued a press release highlighting their efforts to ensure that the integrity of the CRS is preserved and any efforts to circumvent it are detected and addressed. It also announced that plans to elaborate actions to address the misuse of CBI/RBI schemes when experts from the OECD and G20 countries will meet in Paris May 2018 (April 19, 2018).

Country Updates

  • Australia
  • Jersey
  • Belgium
  • Malaysia
  • Brazil
  • New Zealand
  • Costa Rica
  • Russia
  • Curacao
  • Singapore
  • India
  • Sweden
  • Indonesia
  • Switzerland
  • Italy
  • United Kingdom


Download the full newsletter to read details about each country's update from the country competent authority websites.

Archived newsletter editions

  • March 2018: The OECD issued new model disclosure rules that require lawyers, accountants, financial advisors, banks and other service providers to inform tax authorities of any schemes they put in place for their clients to avoid reporting under the OECD/G20 Common Reporting Standard (CRS) or prevent the identification of the beneficial owners of entities or trusts (March 10, 2018). EU Updates: ECOFIN reached an agreement on the Directive proposed by the EU Commission related to mandatory disclosure rules and automatic exchange of information by the tax authorities of EU member states for certain cross-border arrangements. Country Updates: Australia, Belgium, Bermuda, Brazil, Bulgaria, Canada, Cayman Islands, China, Costa Rica, Curacao, Germany, Indonesia, India, Japan, Liechtenstein, Luxembourg, Malaysia, Netherlands, New Zealand, Poland, Portugal, Singapore, Sweden, Switzerland, and United Kingdom.
  • February 2018: The OECD released a consultation document on misuse of residence by investment schemes to circumvent the Common Reporting Standard (February 19, 2018). Following countries had updates: Andorra, Australia, Bahamas, British Virgin Islands, Brazil, Cayman Islands, Curaçao, Hong Kong, India, Japan, Macau, Malaysia, Monaco, Russia, Singapore, and United Kingdom.
  • January 2018: The OECD published comments received by interested parties with respect to the proposed draft rules on mandatory disclosure rules (January 18, 2018). The OECD also published an updated version of their CRS-related FAQs. (December 2017). Following countries had updates: Brazil, Finland, France, Hong Kong, Ireland, Isle of Man, Japan, Malaysia, Malta, Mexico, Monaco, Netherlands, Panama, Portugal, Romania, Singapore, South Korea, Spain, Switzerland, United Kingdom, and Uruguay.
  • December 2017: The OECD published: (1) a press release and; (2) a consultation document (draft rule) seeking comments on new tax rules that would require disclosure of CRS avoidance arrangements and offshore structures (December 11, 2017). In addition, the OECD published an updated version of their CRS-related FAQ. Following countries had updates: Australia, Bahamas, Bermuda, British Virgin Islands, China, Finland, Germany, Guernsey, Hong Kong, Isle of Man, Japan, Mexico, Netherlands, Switzerland, and United Kingdom.
  • November 2017: This newsletter also includes updates on following countries: Australia, Bahamas, Belgium, Brazil, Canada, Cayman Islands, Chile, Costa Rica, France, Gibraltar, Guernsey, Hong Kong, Ireland, Mauritius, Qatar, Russia, Singapore, Switzerland, and Taiwan.
  • October 2017: OECD’s representatives at the SIFMA conference announced that the OECD will be updating its CRS handbook to include, among other items, a more detailed chapter of trusts. This newsletter also includes updates on following countries: Anguilla, Bahamas, Belize, Bermuda, Colombia, Costa Rica, Hong Kong, Ireland, Japan, Jersey, Liechtenstein, Mexico, Monaco, Netherlands, Peru, Russia, Singapore, Switzerland, and Vietnam.
  • August 2017: This newsletter includes updates on following countries: Anguilla, Australia, Belgium, British Virgin Islands, Cayman Islands, Canada, France, Hong Kong, Ireland, Japan, Liechtenstein, Monaco, and Singapore.
  • July 2017: This newsletter includes updates on following countries: Bahamas, Bermuda, Cayman Islands, Chile, Germany, Gibraltar, Hong Kong, Ireland, Italy, Jersey, Luxembourg, Malta, Pakistan, Russia, Seychelles, Singapore, Turkey, and United Arab Emirates.
  • June 2017: This newsletter includes updates on following countries: Australia, Bahamas, Bahrain, Belgium, Bermuda, British Virgin Islands, Cayman Islands, Cyprus, Czech Republic, France, Germany, Guernsey, Hong Kong, India, Ireland, Island of Man, Luxembourg, Macao, Mexico, New Zealand, Singapore, and South Africa.
  • May 2017This newsletter includes updates on following countries: Anguilla, Argentina, Bahrain, Belgium, Cayman Islands, China, Germany, Guernsey, Gibraltar, Hong Kong, Indonesia, Lebanon, Luxembourg, Monaco, Panama, Spain, Trinidad and Tobago, Turkey, and United Kingdom.
  • April 2017: This newsletter references the OECD release of the Second Edition of the Standard for Automatic Exchange of Financial Account Information in Tax Matters and new CRS FAQs and includes updates on following countries: Australia, Bahamas, Bermuda, British Virgin Islands, Cayman Islands, Guernsey, Hong Kong, Indonesia, Liechtenstein, Malta, New Zealand, Pakistan, Singapore, South Africa, Spain, and United Kingdom.
  • March 2017: This newsletter includes country updates from: Bahamas, Belgium, British Virgin Islands, Canada, Cayman Island, Germany, Guernsey, Hong Kong, Italy, Ireland, Japan, Luxembourg, New Zealand, Poland, Sweden, and United Kingdom.
  • February 2017: This newsletter includes country updates from: Bahrain, Cayman Islands, Costa Rica, Denmark, Luxembourg, New Zealand, Singapore, South Korea, Sweden, and Switzerland.
  • January 2017: This newsletter includes an European Union update and country updates from Canada, Cayman Islands, Jersey, Luxembourg, Malaysia, Mexico, Spain, Sweden, Switzerland, and Uruguay.
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