I'm trying to understand how CRS works in detail...
From how I understood every bank, fintech bank and services like paypal send my information at the end of every year (or quarterly?) to the tax authority of the city that is stated on the utility bill/adress they've got from me. For CRS only the adress counts (so far).
Will only the account balance be transmitted?
And most important, does the country of my jurisdiction send information aswell? Not talking about the corporate account that might be connected to this jurisdiction, more like 'this person that is a tax resident of yours just opened a company in our country fyi'
From how I understood every bank, fintech bank and services like paypal send my information at the end of every year (or quarterly?) to the tax authority of the city that is stated on the utility bill/adress they've got from me. For CRS only the adress counts (so far).
Will only the account balance be transmitted?
And most important, does the country of my jurisdiction send information aswell? Not talking about the corporate account that might be connected to this jurisdiction, more like 'this person that is a tax resident of yours just opened a company in our country fyi'
