CRS standards

CRS Legislation (Common Standard of Reporting CRS) - the common standard of reporting and due diligence of information about financial accounts, which includes comments to it (Common Standard on Reporting and Due Diligence for Financial Account Information (CRS).

The Common Reporting Standard CRS was approved by the Council of the Organization for Economic Cooperation and Development on July 15, 2014, which requires countries that implement it to collect information from financial institutions about financial accounts account holders and annually exchange such information with jurisdictions – exchange partners within the framework of the (Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (MCAA CRS)).

On August 19, 2022, the State Tax Service of Ukraine, as a competent authority of Ukraine, joined the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information). According to this agreement, the banks of  Ukraine are obliged to collect information about the financial activities of clients and to carry out due diligence of financial accounts:

• individual accounts of natural persons
• accounts of companies and their ultimate owners (in certain cases)
• private funds and trusts

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The information is submitted to the State Tax Service of Ukraine, which then automatically transfers this data to the tax authorities of other countries with which Ukraine has concluded agreements on the automatic exchange of information.
CRS standard contributes to increasing the transparency and efficiency of tax systems, and also increases international cooperation in matters of tax activity.
On April 28, 2023, the Law of Ukraine dated March 20, 2023 No. 2970-ХХ "On Amendments to the Tax Code of Ukraine and other legislative acts" entered into force Acts of Ukraine regarding the implementation of the international standard of automatic exchange of information on financial accounts» (hereinafter – Law 2970-IX) PJSC "MTB BANK" informs clients that the norms of Article 39(3) of the Tax Code of Ukraine require the Bank, as an accountable financial institution, to collect information about the tax residency status of Account holders and include such information in reporting for the purposes of the CRS Standard. Account holders, in turn, are obliged to provide MTB BANK PJSC with independent CRS assessment documents for themselves, and in certain cases also for their Controlling Persons.

Information about owners The tax residency status of the accounts is indicated in the self-assessment document.
PLEASE NOTE that according to Clause 39(3).2.2.1 of the Tax Code of Ukraine, the account holders are obliged to inform MTB PJSC within 30 calendar days BANK» about changing its tax residency status for the purposes of the CRS General Reporting Standard and about changing the corresponding status of the controlling person.

The CRS self-assessment document will be provided to you for filling in when establishing business relations with the Bank, during the updating of identification data or at a separate request of the Bank.

So, if you, as the Account Owner – natural person, account holder – Organizations, the ultimate beneficial owner of the Organization and is a tax resident of a country other than Ukraine and the USA, please familiarize yourself with the CRS self-assessment document forms and fill out the appropriate form:

• if you are an individual/individual entrepreneur, please provide an Individual Self-Assessment Form (CRS-I).
• if you need to submit a self-assessment document on behalf of the Account Holder – Organizations, provide the self-assessment document form of the organization and if the ultimate beneficial owner of the Organization is a tax resident of a country other than Ukraine and the USA - provide the individual self-assessment document form (CRS–E&CRS-CP).
  
  

  The forms are posted at the link:

  Form CRS - I              CRS–E&CRS-CP

More detailed information and   regulatory documents   on CRS can be found at the link: 

https://tax.gov.ua/baneryi/crs

https://www.mof.gov.ua/uk/crs-578

https://www.oecd.org/tax/automatic-exchange/common-reporting-standard