CRS Opinions and experiences

[juvejuve2020]

Hello everyone.

I joined this group today and is worth every cent.

I would like to know more about the CRS (most on EMI) issue and your experiences with it.

And for that I would like to see some questions clarified which are the following:

- Has anyone had a bad experience with CRS?
- Has any bank / emi already notified you about this? (that were being reported)
- Has anyone had access to any reports of this kind? If so, what kind of information is shared?
- At CRS, is the amount we hold in the account on 12/31 shared or are the movements and turnover shared?

I thank everyone who can help / clarify this topic.

 

[tacokai]

juvejuve2020 said:
- Has anyone had a bad experience with CRS?
Click to expand...

not yet, didn't see anything from my tax office.

juvejuve2020 said:
- Has any bank / emi already notified you about this? (that were being reported)
Click to expand...

Not yet, has yet to come

juvejuve2020 said:
- Has anyone had access to any reports of this kind? If so, what kind of information is shared?
Click to expand...

sorry no, whish I had 🙂

juvejuve2020 said:
- At CRS, is the amount we hold in the account on 12/31 shared or are the movements and turnover shared?
Click to expand...

it is what you hold at a given date. However, I believe if taxfather want you they will request everything the financial institution has available.

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[juvejuve2020]

tacokai said:
not yet, didn't see anything from my tax office.

Not yet, has yet to come


sorry no, whish I had 🙂

it is what you hold at a given date. However, I believe if taxfather want you they will request everything the financial institution has available.
Click to expand...

Thanks. Was a good report. 🙂
I think this kind of sharing would be very beneficial for everyone on this forum. Thank you for your contribution.

 

[Dasboot]

Tax reporting is almost fully automated in Norway, its really a prototype of the digital gulag.

Even so the accounts I've had with Revolut and N26 for a while has not shown up - for 2020 I've got lots more, so it will be interesting to see...

Accounts in Norway are assessed on what is in them at years end only, so I'll simply keep them at a minimum and then see what happens 🙂

My guess knowing how insanely corrupt and costly all of the digitalisation projects have been is that there will be 2-5 years of "greyzone" where its relatively safe to simply disregard the whole CRS problem if its only personal assets and not a lot...