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today letamp;#39;s tackle the common reporting standard or CRS itamp;#39;s the global response to the USamp;#39;s foreign account tax compliance act CRS is designed for international tax cooperation itamp;#39;s an information gathering and reporting requirement for financial institutions in over a 100 countries it ensures tax authorities receive data on residents assets and income from abroad Financial accounts interest dividends and sale proceeds are all disclosed CRS aims to prevent tax evasion by making Financial dealings transparent worldwide however not every country is on board most notably the US hasnamp;#39;t joined the CRS framework yet raising critical questions about Global Tax fairness as things stand the US is the only major Financial Center that hasnamp;#39;t adopted CRS as weamp;#39;ll see this has raised the question of whether the US is the last major International tax Haven
