Anguilla: Proposed adoption of amended CRS

Aligned with the latest standards issued by the OECD

The International Tax Cooperation Unit (ITC unit) of the Anguilla Ministry of Finance on August 29, 2025, issued a press release to notify reporting financial institutions of the forthcoming adoption of the amended common reporting standard (CRS) within Anguilla’s domestic framework, aligned with the latest standards issued by the Organization for Economic Co-operation and Development (OECD).

The key improvements under the amended CRS are as follows:

Expanded scope and definitions: Certain electronic money products, capital protection instruments, and investment-linked insurance contracts are now reportable under the CRS.
Enhanced due diligence requirements: Reporting financial institutions must strengthen the validation process for self-certifications and apply heightened scrutiny to high-risk accounts. Additionally, existing accounts are subject to review in line with the revised due diligence requirements and updated as necessary.
Additional data collection requirements: Reporting financial institutions are required to collect and report additional information, such as taxpayer identification numbers (TINs), place of birth, and more detailed information on controlling persons.
Anti-avoidance measures: The amended CRS introduces strengthened provisions to prevent avoidance through indirect ownership structures or artificial arrangements.

Read a September 2025 report prepared by the KPMG member firm in the Caribbean region

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Anguilla: Proposed adoption of amended CRS

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