UK: Update to CRS reportable jurisdictions list
Removes Kenya, Moldova, and Uganda from the reportable jurisdiction list
Removes Kenya, Moldova, and Uganda from the reportable jurisdiction list
HM Revenue & Customs (HMRC) on 2 May 2023 issued an update to the International Exchange of Information Manual in relation to the common reporting standard (CRS), removing Kenya, Moldova, and Uganda from the reportable jurisdiction list—meaning that financial accounts held by tax residents of these countries need not be included in the reports sent to HMRC by 31 May 2023.
HMRC understands that financial institutions may already have compiled their reports and may not be able to remove such accounts before the reporting deadline. Financial institutions need not delay reporting, rather HMRC will remove any data related to these accounts before exchanging information with reportable jurisdictions.
HMRC further notes that while Kenya, Moldova, and Uganda are not reportable jurisdictions for the 2022 reporting year, arrangements remain in place with these jurisdictions.
Read a May 2023 report [PDF 211 KB] prepared by the KPMG member firm in the UK
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