At RAKBANK, we're committed to complying with the regulations set forth by the government of UAE. As part of this commitment, we're adopting the Common Reporting Standards (CRS) initiated by the Organisation of Economic Cooperation and Development.
Governments around the globe are implementing an Automatic Exchange of Information system to protect the integrity of tax systems and fight against tax evasion. Under the Common Reporting Standards (CRS), RAKBANK customers will be required to fill in a CRS Self-Certification form as part of the Tax Residency update. This information may be shared with the UAE regulatory authorities, who may further share it with international tax authorities where customers are confirmed to be Tax Residents.
RAKBANK or its staff cannot provide any advice on Tax Residency or related laws. However, we're committed to making the process as smooth as possible for our customers.
To help you comply with the CRS regulations, we've made available the following forms:
If you have questions or concerns about CRS, we recommend contacting your tax advisor or visiting the OECD Portal for further information on Tax Residency laws.
We take the responsibility of protecting our customers' data and are committed to complying with all relevant regulations.
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