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Podcast: Offshore Tax with HTJ.tax
Episode: CRS Exemptions: Which Financial Institutions Don’t Report?
Description: Not every Financial Institution (FI) under the Common Reporting Standard (CRS) is required to report. Certain entities are automatically treated as Non-Reporting Financial Institutions because they pose a low risk of tax evasion and serve public or systemic functions.In this episode, we break down which institutions are exempt—and when those exemptions can be lost.🏛️ 1️⃣ Governmental EntitiesCRS exempts entities that form part of the state.This includes:• National governments • Political subdivisions (e.g., states, provinces, municipalities) • Agencies or entities wholly owned by government bodiesThes...