CRS reveals Australians holding $100bn in offshore accounts: reports

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CRS reveals Australians holding $100bn in offshore accounts: reports

Australians are holding more than $100bn in undisclosed offshore accounts, according to new taxation office data collected under the Common Reporting Standard (CRS), British newspaper the Guardian has reported. The undeclared funds are thought to be spread across more than 1.6 million accounts, of which around 370,000 taxpayers have so far been identified. Of these, just 2,000 individuals have so far been contacted by the Australian tax authorities. The CRS exchanges financial and tax-r...

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Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.