08.12.2016Dr. Kirill Zimarin reelected to the Presidency of the Association of International Banks in Cyprus
05.12.2016RCB Bank: Another distinction by the Pan Cyprian Volunteerism Council for its CSR program
01.12.2016The CEO of RCB Bank underlines the need for the banking system to support the recovery of economy
Common Reporting Standard (CRS)
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 http://www.oecd.org/tax/automatic-exchange/.