From non-crs to crs transfer

[Delta]

Hi,

Wonder, if I make small transfer from my non-crs account to my crs account, if that will lead to possible problems? Can tax authorites actually ask for my data and are they forced to reveal them as tax autorities potentialy can find out about it from crs acc?
Anybody knows a service that helps with opening non-crs bank accounts or currentl list of non-crs countries?
I ve found cuba, nicaraqua, comoros, tanzania so far. Hopefully Russia will join them soon 😀

Regarding crs, which is reported in 31st december, do they reveal information from who was money sent or just cumulative value of transactions, total balance? Cant find anywhere in details what info crs banks sent.

Regards,
Delta

Last edited: Jan 1, 2024

 

[Piano]

Delta said:
Hi,

Wonder, if I make small transfer from my non-crs account to my crs account, if that will lead to possible problems? Can tax authorites actually ask for my data and are they forced to reveal them as tax autorities potentialy can find out about it from crs acc?
Anybody knows a service that helps with opening non-crs bank accounts or currentl list of non-crs countries?
I ve found cuba, nicaraqua, comoros, tanzania so far. Hopefully Russia will join them soon 😀

Regarding crs, which is reported in 31st december, do they reveal information from who was money sent or just cumulative value of transactions, total balance? Cant find anywhere in details what info crs banks sent.

Regards,
Delta
Click to expand...

ever heard of google ?
https://auresnotes.com/non-crs-countries/

 

[Forester]

Piano said:
ever heard of google ?
https://auresnotes.com/non-crs-countries/
Click to expand...

This list is not completely correct but at the OECD webpage it is possible to find accurate information...

Delta said:
if I make small transfer from my non-crs account to my crs account, if that will lead to possible problems? Can tax authorites actually ask for my data and are they forced to reveal them as tax autorities potentialy can find out about it from crs acc?
Click to expand...

There is not only Automatic Exchange of Information (AEOI) based on CRS but also Exchange of Information on Demand ”“ that almost any country participates in. So the answer to your question is yes.

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[Delta]

Piano said:
ever heard of google ?
https://auresnotes.com/non-crs-countries/
Click to expand...

I ve found CRS countries that I could rely on but not non-CRS list.
Obviously I was googling before asking anything.
Thanks for answer. 🙂

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  participating-jurisdictions-for-the-crs-as-of-february-2023.pdf
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[Amandograde]

Delta said:
Hi,

Wonder, if I make small transfer from my non-crs account to my crs account, if that will lead to possible problems? Can tax authorites actually ask for my data and are they forced to reveal them as tax autorities potentialy can find out about it from crs acc?
Anybody knows a service that helps with opening non-crs bank accounts or currentl list of non-crs countries?
I ve found cuba, nicaraqua, comoros, tanzania so far. Hopefully Russia will join them soon 😀

Regarding crs, which is reported in 31st december, do they reveal information from who was money sent or just cumulative value of transactions, total balance? Cant find anywhere in details what info crs banks sent.

Regards,
Delta
Click to expand...

sure, anything in banks is not anon as you have provided your passport.
If this issue is of concern, you need to approach this from a different angle.

 

[Piano]

Forester said:
This list is not completely correct but at the OECD webpage it is possible to find accurate information...

There is not only Automatic Exchange of Information (AEOI) based on CRS but also Exchange of Information on Demand ”“ that almost any country participates in. So the answer to your question is yes.
Click to expand...

Almost every country participates in info on demand ”¦.which countries not ? Is there a list of this ?

Delta said:
I ve found CRS countries that I could rely on but not non-CRS list.
Obviously I was googling before asking anything.
Thanks for answer. 🙂
Click to expand...

Here is the list

https://www.oecd.org/tax/transparency/AEOI-commitments.pdf

Last edited: Jan 2, 2024

 

[Forester]

Piano said:
Almost every country participates in info on demand ”¦.which countries not ? Is there a list of this ?
Click to expand...

Actually, it is exactly called Exchange of Information on Request (EOIR) ”“ sorry, I did not recalled it well.
If you browse the OECD website, you can check for the particular country. You can start here https://www.oecd.org/tax/transparency/. (It is possible that someone created even some list and published it somewhere but I am not aware of this; and I also guess that such a list would become outdated relatively soon, as the situation is permanently changing. BTW, the same concerns also any non-AEOI/CRS countries list published by anyone other than OECD.)

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...