Tax Residency (FATCA/CRS)

What is CRS?

Common Reporting Standard (CRS) is a global framework for countries that participate in it to share account information of non-residents. Malaysia is a participating country and financial institutions in Malaysia must report account information of non-residents to the Inland Revenue Board of Malaysia (LHDN). LHDN will then forward the information to the countries of residence of these accountholders, if those countries participate in the CRS. At the same time, LHDN will receive information from other participating countries on information of Malaysian residents’ accounts in those participating countries. The objective of this exchange of information is to encourage compliance of participating countries’ tax laws by their respective residents and to prevent tax evasion. CRS is a reporting framework and it does not introduce new taxes.

What do you need to do?

You need to complete the OCBC Self-Certification Form to declare your tax residency(ies) and you may be asked to provide supporting document(s). Click below for the form.

For more information on how this affects you, please see our FAQ guide.

Any further queries?

If you have any further queries regarding the CRS and your tax position, please contact a tax advisor. OCBC Bank is unable to provide tax advice. You may also find useful reference at the website of the Organisation for Economic Co-operation and Development (OECD).