Financial institutions are obliged to provide data to the tax authorities according to the Common Reporting Standard (CRS). This data concerns accounts of persons and organizations that are (possibly) liable to pay taxes abroad.

By ‘financial institution’ we mean a depository institution, a depository institution, an investment entity or a specified insurance company.

Some financial institutions, including certain government agencies and pension funds, are not required to provide data about their customers. More information about this can be found in the LIBB.

Financial institutions that are not exempt from providing data for the CRS must register with the Tax Authorities.

You must register with the Tax Authorities, as a financial institution, in the situation that you have to provide data for the CRS.

In the situation that you are not exempt from providing data for the CRS, but there is no data to report? Then you still must register with the Tax Authorities’. It then remains a one-time registration. However, you must report again on your own initiative if this situation changes.

Contact with the Tax Authorities

You can send an email to: info.aeoi@gobiernu.cw.

In the FATCA/CRS Guidelines you will find information regarding who must provide data and what data it concerns.

Are you unsure whether you are a financial institution and whether you need to provide data? Please consult your tax advisor.