FAQ Common Reporting Standard CRS

How do you know what your tax residence is?
very country has laws that determine whether you are there as a private tax resident or whether your company is fiscally located there. These laws and regulations vary by country. In the Netherlands, the Tax Authorities determines your private tax residence or company tax residence. The important factors for determining the status of individuals are: Where you reside or stay most of your time; where your partner and/or children live(s); where you work; where is your local doctor located and what kind of insurances you have.
Most people are living at one address. But if you own 2 or more addresses, of which one or more in a foreign country, than you can also live fiscally abroad. In most cases this does not mean that you pay double taxation. This is thanks to the Netherlands having concluded a tax treaty with many countries. Your tax advisor can inform you more about this subject. The important factors for determining the status of companies/organizations are: Where important business decisions are taken; where are the directors working and meeting; and where the accounting/book-keeping takes place. The juridical form of the organization also plays a role. Whether your organization is (also) fiscally located in another country depends on the law in that country and varies based on different facts and circumstances. If you don’t know what your residence is, where your organization is fiscally located and/or what the fiscal effects are, you can obtain information from the Tax Office or your tax adviser.

What can you expect from your bank?
In certain cases your bank is authorized to ask you for an explanation/statement about your residence or about the residence of the company/organization in which you act as authorized signatory 
(ies). This could be for example, when you open an account, if you have a foreign address or phone number, or if your company/organization is incorporated under foreign law. Certain companies/organizations are asked for the fiscal residence of the ultimate beneficial owner (s). If you refrain from contributing to this inquiry, it is unfortunately not allowed for the bank to open an account for you or your company/organization.
If there is a foreign tax residence, the bank will give this information to the tax authorities; and the tax authorities will in turn give your data to the relevant country.

What are you filling in?
Do we ask you to send your CRS data? You can fill out the form by downloading the CRS form - private and/or download the CRS form - business through our website or via the (paper) form that we have sent to you. Does your tax residence concern several countries? Then you must also specify this in the form.
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