Common Reporting Standard (CRS)
CRS: International exchange of tax information
As of 2017, the Dutch government will automatically exchange financial data of companies and individuals with more than 90 countries to combat tax evasion. Accordingly, all financial institutions in the Netherlands from 2016 are required by law to determine the tax residency of their clients.
Under Common Reporting Standard (CRS) legislation, Demir-Halk Bank (Nederland) N.V. is obliged, like all other financial institutions in the Netherlands, to collect information from new clients to identify their tax residence and the tax identification number of their residence or business location. If you are already a customer, the rule is different: You would have to provide the same information only if there is a specific reason to do so, such as; if you move to another country or when you open a new account that needs additional information.
Please refer to the FAQ
on our website.
More information about the tax residence and domicile can be found on the website of the
Dutch Banking Association (www.nvb.nl
) and on the website of the Tax Authorities (www.belastingdienst.nl
More information about the CRS countries is available on the OECD website ( www.oecd.org
and then search on the topic: rules governing tax residence) .