We are often approached by seafarers who confidently believe that their earnings are “hidden” from revenue authorities – this is not the case. There are hundreds of Jurisdictions that have agreed to and signed the OECD’s “Common Reporting Standard” (CRS), which means they are now obligated to obtain pertinent financial information from their financial institutions and automatically exchange this with other jurisdictions on an annual basis. Put simply, if you are living in a jurisdiction that has to comply with CRS, then your financial information will be shared with the relevant Revenue Authority. Click here for a list of countries.
Click here to read more about your obligation how you fit in we can help you.