Author: Karen Miller

If you are fortunate enough to have an offshore bank account, and have received a questionnaire from that bank asking for information on your residency and tax reference numbers, the reason is simply that banks are now required to provide information relating to their account holders for tax purposes under the Common Reporting Standard (CRS).  Banks are now required to establish where their account holders are tax resident and, if you live outside the country where the account is held, the bank may be required to report on your tax residence and provide information on your accounts.  This is a…