they will report everything that has been going on at this account. There is a thread & link I can't remember now which explained it well what was reported. according to that everything will be reported once they do.Not being reported is not even the issue here. Everyone knows it's reported! Correct? Here the question is whether if at the end of the year they will report only the balance on account or all the amounts that were entered in the account!
@sonato read the CRS rules that i posted here! There is no more rules!!they will report everything that has been going on at this account. There is a thread & link I can't remember now which explained it well what was reported. according to that everything will be reported once they do.
Right. As you're the UBO of that company, I think they will report you at your home country because your "permanent residence/establishment" is in your own country
I was also told that they dont automatically do CRS reporting .Guys, I have encountered Revolut at least 5 times for CRS reporting question as I have 4 Tax Ids. My request was simple, wanted to set to them right number for CRS due to my accounting, they 5 times refused to accept any of such attemps as they said they do not do CRS yet and once they do, they will contact me. Belive me I tried hard to convince them I need them to follow this in right way. Usual crs reporting institution will do some research, especially if client asks for himself from his own side. I do not see probable they just use whatever they like to choose. I have read CRS guidelines for banks and is mandatory for them to rightly assest customers tax duties and make some efforts. Even crazy leopay did. I think it has something to do with low value accounts indicia in crs guidelines as these are exemp from reporting, who knows. I am not saying I am expert or so, just saying what I did and still do. I want my tax duties to be right, if they do not want proof of my tax residency and I am cypriot (no tax id on our ids) how could they determine right number? Just my view, not answer to OP question. A.
You are KYC on Revolut with a residence in Asia ?well its okey . . my tax juristician is very relaxed in Asia. . also . .i dont think they report the annual turnover just the info of client and balance in December . .
What do you know about crs?? Crs doesnt talk about turnover. Why dont you read the crs rules? Fake information no please! Do you have any proof?
See what MONESE said:
Relax ... we are just talking here.
Think about the data to report all movements and turnover of the all accounts. Can you imagine the size of the data?