Executive summary
Kenya’s Cabinet Secretary, National Treasury and Planning published the draft Tax Procedures (Common Reporting Standards) Regulations (CRS Regulations) applicable to financial institutions in December 2021.
The Common Reporting Standards (CRS) were developed by the Organisation for Economic Co-operation and Development (OECD) in July 2014 with the intention of protecting the integrity of tax systems and reducing instances of tax evasion through the sharing of information among ju…