CSCegyezmény

The CSCegyezmény, or CSC Agreement, refers to a legal framework governing the exchange of information and collaboration between financial institutions and tax authorities concerning the tax status of account holders. This agreement primarily stems from the Common Reporting Standard (CRS), an OECD initiative designed to combat offshore tax evasion. The CSCegyezmény aims to facilitate the automatic exchange of financial account information between participating jurisdictions.

Under the CSCegyezmény, financial institutions are obligated to identify account holders who are tax residents in other participating countries. This involves collecting and reporting specific information, such as account balances, interest, dividends, and other income generated from financial assets. This information is then transmitted to the tax authorities of the account holder's country of residence.

The primary objective of the CSCegyezmény is to enhance tax transparency and prevent individuals from hiding assets and income offshore to evade their tax obligations. By making this information readily available to tax authorities, the agreement strengthens their ability to detect and address potential tax fraud. The implementation and scope of the CSCegyezmény can vary slightly depending on the specific regulations and agreements in place between individual countries.