In an effort to enhance tax reporting, the global version of the United States' Foreign Account Tax Compliance Act (FATCA), known as the Common Reporting Standard (CRS), came into effect in South Africa on 1 March 2016.
CRS is the global standard for the automatic exchange of financial account information and extends to all accounts held by entities and individuals with foreign tax obligations and entities with controlling persons with foreign tax obligations (for a detailed explanation of these terms please consult the glossary of terms listed below).
If you are completing forms on behalf of an entity, please start with the Entity Self-Certification form, which will then indicate if any of the further forms listed below are required.
If you are completing the forms as a controlling person*, please start with the Individual and Controlling Person Self-Certification form, which will then indicate if any of the further forms listed below are required.
Important: Kindly fill in the correct Reference number where indicated to ensure the form(s) are associated with your profile.
Your Reference number is stated on the requesting email from NCIB or can be obtained from your Banker.
*For the definition of 'Controlling Person' please refer to the glossary of terms for entity self-certification above.
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