// definition
CRS
Common Reporting Standard
Short definition
An international standard for the automatic exchange of financial-account information for tax purposes. Reporting financial institutions identify reportable accounts using tax residence and account-holder classifications, including controlling persons of certain entities. Information passes through competent authorities under the applicable exchange relationships. Payments follow a separate channel. Identifying tax fraud depends on due diligence, data quality and subsequent investigation.
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Knowledge map
Related analyses
Primary sources
- OECD, consolidated CRS 2025Unofficial consolidation published on 2 June 2025; Sections I, V, VI, VIII and X. Domestic implementation and applicable exchange relationships determine coverage.