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Communiqué

2020

24 Sep. 2020

Communiqué - CRS Implementation

Dear Valued client,



The Common Reporting Standard (CRS), developed by the Organisation for Economic Cooperation and Development, is a global standard for the automatic exchange of financial account information. In compliance with the obligations under CRS, we are required to collect certain tax-related information and/or documents from account holders.

 

Additionally, we may be required to report and share information regarding account holders and their financial accounts with the designated local tax authority where the account is maintained and in accordance with the local legislation. 

 

What do we need from you?

Please fill out the corresponding Self-Certification Form namely the CRS Entity Self-Certification Form or the CRS Individual Self-Certification Form.

 

In order to ensure that reporting decisions are based on accurate information, we encourage you to complete and return to us by email by latest Wednesday 30 September 2020.   

 

Your Tax Identification Number (TIN) and country of tax residence are mandatory information.  In cases where TIN is not available, please provide either your national personal ID number, social security number, insurance number, service code or resident registration number. Kindly note that your passport number is not acceptable by us.

 

This form has important tax and legal consequences for you. We request you to fill it with the utmost care and if needed, seek counsel from a professional tax advisor.

 

Under no circumstances should the present document or any written or spoken explanation relating to it be construed as tax advice. If you have any questions about how to complete this form or about how to determine your tax residency status, you should contact your tax advisor or domestic tax authorities.

 

 In case of no response from you

If we do not receive a response by the set deadline, we will use the information held on our records to determine whether you may be tax resident outside Mauritius.

 

Please note that in some cases, we may require additional supporting documents to enable it to validate your Self-Certification Form and shall contact you accordingly.

 

Should you need any clarification about this notice, please do not hesitate to contact your Relationship Manager.

 

Kind regards,

AfrAsia Bank Team