What is the CRS?
Managing your account
The Common Reporting Standard (CRS) is an Automatic Exchange of Information agreement developed by the OECD to improve global tax transparency and ensure that individuals/entities meet tax obligations in the countries of their tax residency.
What is the CRS?
The Common Reporting Standard (CRS) is an Automatic Exchange of Information agreement developed by the OECD to improve global tax transparency and ensure that individuals/entities meet tax obligations in the countries of their tax residency. Over 100 countries participate in the CRS and are listed in this section of the OECD website.
I am not resident in Gibraltar, does tax reporting apply to me?
We obtain tax information from all our members but only report on those from countries signed up to the CRS.
Gibraltar signed the “Common Reporting Standard (CRS)”, an Automatic Exchange of Information agreement. If a member of ours is a tax resident of a CRS-participating country, Xapo Bank is obliged to report about that member’s USD account to the Gibraltar tax authority, which shares this report with the member’s country.
What information will you report?
We include the following information in annual tax reports:
- Name
- Account number
- Address
- Country of Tax residency
- Tax ID number
- Your US dollar Bank account balance as of December 31st
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