The Organisation for Economic Co-operation and Development’s effort to combat offshore tax evasion, known as the Common Reporting Standard (CRS), has created a significant compliance challenge for Financial Institutions (FIs) around the world. In an effort to shed light on the extent and impact of the CRS on bank, asset management, and insurance professionals working to bring their organizations into compliance, KPMG conducted a follow-up survey of global tax and compliance professionals from the financial services industry in 2016.

This survey report summarizes the findings of 146 high-level tax and compliance professionals—their views and insights into what their organizations are doing to comply with the CRS regulations.