Cyprus Extends CRS Reporting Date
by Amanda Banks, Lowtax.net, London
16 June, 2017
Cyprus has given financial institutions more time to submit returns required under the Common Reporting Standard (CRS), the OECD's new international standard for the automatic exchange of financial account information in tax matters.
Under the CRS, jurisdictions must obtain specified financial account information from their financial institutions and automatically exchange that information with partner jurisdictions on an annual basis.
Cypriot financial institutions now have until July 21, 2017, to submit electronic returns due under the CRS.
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