The Netherlands: Common Reporting Standard

30 November 2017 Add expertise tag Add service tag Add country tag

As from 1 January 2016 the Netherlands introduced the Common Reporting Standard ("CRS") which has been incorporated in Dutch tax law. This means that as from 1 January 2017 financial institutions will need to report information gathered in 2016 to the Dutch tax office.

CRS is a reporting standard for financial institutions and has been prepared by the OECD upon request of the G20 in order to avoid tax evasion.

The information to be gathered by financial institutions are the following:

  • Identify clients and determine their tax residency
  • Report information of foreign resident taxpayers to the local tax office.

This is only applicable in the situation that the Netherlands concluded a bilateral treaty with the country of the foreign resident taxpayer.