• Marco Zawar MBA/LLM (Tax)

Australian Tax Office published CRS statistics on accounts held by foreign tax residents in 2018

The #Australian #Tax #Office (#ATO) on August 05, 2020 released #CRS statistics about financial accounts held by offshore account holder held with Australian financial institutions for the reporting year 2018.

ATO has collected information on 5.8+ million offshore account holder located in 247 jurisdiction worth US$ 150+ Trillion.

The details can be found under the ATO CRS Statics 2018.

Reader have to considered that account holder may be tax resident in multiple jurisdictions and/or having multiple account holder to whom the full balance is attributable. As a result, some account may be included multiple times in the report.

Additionally it has to be considered, that the statistics includes 533+ thousands accounts held by resident in United States or US United States Minor Outlying Islands which are subject to report under FATCA.

Finally, I would like bringing to your attention that #HongKong residents ranks 7th held 223+ thousand accounts with a value of US$ 6.6 trillion (HK$ 51.6 trillion) in 2018.

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