Common Reporting Standard Statement

Common Reporting Standard Statement

To tackle global offshore tax evasion, The Organization for Economic Cooperation and Development (the “OECD“) introduced the Common Reporting Standard (CRS) for automatic information exchange among signatory countries. This standard streamline efficiency and reduces costs in information sharing.
In Kenya, the Tax Procedures Act & Regulations (Common Reporting Standards), which took effect from January 1, 2023, mandates tax residency data collection via specific forms in all Banks. The Government requires financial institutions to adopt CRS, starting with identifying reportable accounts through Self Certification.

Kindly download self-certification forms from the link below; complete, sign, and return the same to the Bank.

1.CRS Self Individual Certificate Form

2.CRS Entities Self Certificate Form

3.CRS Controlling Persons Self Certificate Form

For any additional assistance, reach out to Customer Service through and/or via phone number +254709072000.
More information about the Common Reporting Standard can be found on the OECD

“For personalized tax inquiries, consult a professional advisor.”