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Glite Dictionary
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CRS

CRS

1 9.5
An international rule for sharing bank account details between tax offices
  • noun
  • Formal
: norma de intercambio automático de información financiera
  • The CRS allows countries to automatically share financial account information to combat tax evasion.

Examples

  • Thanks to the CRS, tax authorities can exchange financial data more efficiently and reduce tax fraud.

  • The implementation of the CRS is crucial for enhancing transparency in global financial systems.

  • OK, so the verifier, he gets the CRS, which is of this form.

  • The next statement depends on the CRS because CRS is first sent to the adversary.

How Widespread

CRS
  • Formal
1 9.5
IBAN
  • UK
1 5.0

Surface Forms

CRS singular
CRSs plural

Etymology

CRS is short for the Common Reporting Standard, using the first letters to name an international rule for sharing bank account data. So the CRS is a shared system that helps countries 'report' and compare financial information to reduce tax evasion.