CRS on Broker platforms Degiro or interactivebrokers

[JohnLocke]

Thank you for clarification, would be nice to learn from someone who have actually experienced this.

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[lbh411]

yeah hard to eliminate since sometimes its IRS or broker themselves so timing is random on top of office response(or if they even care)

id say rule of thumb is interest bearing accounts are the red flag (IB)

 

[DavidS]

Martin Everson said:
Degiro does share under CRS as they clearly state. IB will also. Any broker that doesn't now will do later. I posted here two brokers here you can use but it will not last long as those countries will join CRS at some point.

FAQ on Taxes | Degiro online broker

--- quote start

"To help fight tax evasion and to protect the integrity of tax systems, governments around the world introduced a system for automatic exchange of information on financial accounts between countries. This system is known as CRS and is incorporated in Dutch law.

As a result, DEGIRO is obliged to verify in which country a client is (potentially) a tax resident. DEGIRO is obliged to share this information with the Dutch tax authorities. Subsequently, the Dutch tax authorities share this information with the tax authorities in the country where the relevant client (potentially) is a tax resident."

---- quote end
Click to expand...

What kind of info will they share directly from DEGIRO and IB?

Let's say you have no cash balances as of 31st Dec, only stocks.

Will they share the stock quantity or stock valuation at the time?

IB allow indicating tax residency (country from drop-down list) and "residence address"...which one gets reported as per CRS?

 

[Martin Everson]

DavidS said:
What kind of info will they share directly from DEGIRO and IB?

Let's say you have no cash balances as of 31st Dec, only stocks.

Will they share the stock quantity or stock valuation at the time?

IB allow indicating tax residency (country from drop-down list) and "residence address"...which one gets reported as per CRS?
Click to expand...

You can see the reporting guide and schema for yourself below

https://www.oecd.org/tax/automatic-exchange/common-reporting-standard/schema-and-user-guide/

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.