CRS

CRS is an information gathering and reporting requirement for financial institutions in participating countries, to help fight against tax evasion and protect the integrity of tax systems.

CRS seeks to establish the tax residency of customers. Under the CRS, financial institutions are required to identify customers who appear to be tax resident outside of the country where they hold their accounts and products, and report certain information to our local tax authority. They may then share that information with the tax authority where you are tax resident.

Under the CRS, Malaysian Financial Institutions (MYFI) are required to collect and report to Inland Revenue Board of Malaysia (IRBM), financial account information on non-residents. IRBM will exchange this information with the participating foreign tax authorities of those non-residents.

Under CRS, as-Salihin Trustee Berhad (as-Salihin) are required to collect and report on customers’ tax information. To do so, we will ask our customer to complete a CRS Self-Certification Form. If you are a tax resident outside Malaysia, we have to report your information to IRBM.

You may refer to the CRS Self-Certification Form. We will ask from our customer the followings information:

Individual	Entity	Controlling Person*
Name	Name	Name
NRIC No./Passport No.	Address	NRIC No./Passport No.
Passport Expiry Date	Country of tax residency	Passport Expiry Date
Date of Birth	Taxpayers Identification Number	Date of Birth
Place of Birth	Place of registration	Place of Birth
Residential Address/Mailing Address	Entity type	Residential Address/Mailing Address
Country(ies) of tax residency		Country(ies) of tax residency
Taxpayer Identification Number(s)		Taxpayer Identification Number(s)

*Controlling Person refers to natural person who ultimately owns or controls an entity. It’s also includes those natural persons who exercise ultimate effective control over a legal person or arrangement.

as-Salihin are not allowed to give tax advice. Generally, it is to determine which country you are responsible to pay tax based on your income. Please contact a professional tax advisor or check the OECD CRS Portal for more information on how to determine your tax residency.

as-Salihin is required to report your tax details under the legal obligations introduced by countries participating in CRS.

Under CRS, as-salihin are legally required to establish the tax residency of all our customers, even if you are a tax resident of Malaysia. As a general rule, your details will not be reportable to tax authorities for CRS purposes if Malaysia is your only tax residency.

CRS and FATCA are different tax regulations. as-Salihin is obligated to comply with both regulations.

as-Salihin is committed to be fully compliant with CRS. as-Salihin may need to report certain information to the regulatory authorities (IRBM) about customers who do not provide required information and/or documentation.

You shall notify as-Salihin in writing within thirty (30) days of any change that affects your tax status in relation to CRS.

You have ninety (90) days to response on additional document/information related to CRS as required by as-Salihin.

We would like to seek your utmost cooperation by providing us your information and/or documentation for CRS purposes should it be required. It is important that you respond to all requests in a timely manner.

If you are impacted by CRS in any way, kindly contact your professional tax adviser or refer to the OECD CRS Portal, as as-Salihin cannot offer professional tax advice. Thank you for your understanding and continuous support.