What is the CRS?
The Common Reporting Standard (CRS) is a global standard developed by the OECD for the automatic exchange of financial account information between tax authorities. Its purpose is to improve tax transparency and support the prevention of cross-border tax evasion.
Under the CRS, financial institutions in participating jurisdictions are required to identify the tax residence of their customers and determine whether an account is reportable. Where reporting is required, certain account and customer information is reported annually to the relevant local tax authority. For Vivabank, this is the Greek Independent Authority for Public Revenue (IAPR/AADE), which may then exchange the information with the tax authority of the relevant Reportable Jurisdiction.
What does this mean for you?
As part of our CRS obligations, we may ask you to confirm your tax residence by completing a self-certification form and, where necessary, provide supporting information.
Whether your account is reportable depends on your tax residence and, for certain entities, on their CRS classification and the tax residence of their Controlling Persons. If you are an individual who is tax resident only in Greece, your account will generally not be reportable under the CRS solely on that basis.
Self-certification forms
To determine your tax residence and CRS status, we may ask you to complete the relevant self-certification form and, where necessary, provide supporting documents. You can find the relevant forms at the top of this page:
• Tax Residency Self-Certification Form – Natural Persons
• Tax Residency Self-Certification Form – Entities
• Tax Residency Self-Certification Form – Controlling Persons
What may be reported
If your account is reportable, the information reported to AADE may include, depending on the circumstances:
• Full name or company name
• Address
• Tax Identification Number (TIN) and tax residence
• Date and place of birth (for individuals)
• Account number, type and balance or value at the end of the calendar year – or, if the account was closed during that year, the closure of the account
• Depending on the type of account, amounts such as interest, dividends, gross proceeds and other payments required under the CRS
• Where relevant, information about an entity’s Controlling Persons who are Reportable Persons
The legal framework
The CRS applies within the EU through Directive 2014/107/EU (DAC2), which incorporated the CRS into the EU framework for administrative cooperation in taxation, and internationally through agreements between participating jurisdictions.
As a Greek Reporting Financial Institution, Vivabank is required to collect and review relevant customer information, including tax residence, and to identify and report Reportable Accounts in accordance with the applicable Greek CRS framework, including:
• Law 4378/2016, which implemented Directive 2014/107/EU (DAC2) into Greek law.
• Law 4428/2016, as amended, including by Law 5272/2026, which ratified and implements the Multilateral Competent Authority Agreement on the automatic exchange of financial account information.