CRS Enforcement

[RexS9999]

CRS reporting has been around for a few years now. I have never read of anyone caught by any tax authorities because of this. Is anyone aware of any enforcement action taken? Interested in Canada in particular.

 

[Sols]

Yes, it's in place and working across the world. It will take time for it become fully effective as tax authorities are receiving more data than they can process.

Avoid structures that rely on CRS not working for your own privacy or tax burden. It's down to luck and a race against the clock now.