To help fight against tax evasion and protect the integrity of tax systems, governments around the world are introducing a new information-gathering and reporting requirement for financial institutions. This is known as the Common Reporting Standard (the “CRS”).
Under the CRS, our company, as any other financial institution / investment company, is required to determine where our account holders are tax residents. If they are tax residents outside Greece, we are required to collect and then report to the national tax authority certain information relating to such account holders and their accounts. This information may then be shared between different countries’ tax authorities.
For more information on the CRS, please see the following documents: