VPS Reporting – FATCA and CRS
The Common Reporting Standard (CRS) is OECD’s new international standard for automatic exchange of financial account information.
Norway has entered into bilateral agreements with a number of OECD countries on exchange of tax information requiring financial institutions to report information about investors and their holdings to the Tax Administration. Euronext VPS reports on behalf of Nordic financial institutions.
Euronext VPS offers an intuitive graphic interface for registration and reporting of FATCA and CRS information. The service alleviates financial institutions of the burden that entails from the FATCA and CRS duties by structuring the necessary information in a file that is submitted to the tax administration per their requirements. The service processes FATCA-reporting per the Foreign Account Tax Compliance Act.
Furthermore, VPS publishes a simple user guide for registering the information in VPS Investor Services. The investor and substantial owners receives a copy of all information reported to the tax authorities as part of the annual report from Euronext VPS.