Can anybody confirm this request?
"As a recently introduced international requirement endorsed by your country, JFD Brokers requires the information regarding your country of Tax Residency and your Tax Identification Number (TIN). Please send it to us via email by Monday 17th July 2017.
Why do we need this info? Governments around the world have been working together to fight against tax evasion by introducing information-gathering and reporting requirements for financial institutions. One of these is known as the Common Reporting Standard (CRS) which seeks to establish the tax residency of customers. Under the CRS, financial institutions are required to identify business customers and their beneficial owners who appear to be tax residents outside of the country where they hold their accounts and products. JFD Brokers is set to execute its first reporting about its clients to the Cypriot Tax Authorities, and we kindly request your cooperation on this matter. "
The extremely short timeframe for sending such sensitive data and the fact, that I have never encountered such a request from an international broker gives the issue a shady touch.
"As a recently introduced international requirement endorsed by your country, JFD Brokers requires the information regarding your country of Tax Residency and your Tax Identification Number (TIN). Please send it to us via email by Monday 17th July 2017.
Why do we need this info? Governments around the world have been working together to fight against tax evasion by introducing information-gathering and reporting requirements for financial institutions. One of these is known as the Common Reporting Standard (CRS) which seeks to establish the tax residency of customers. Under the CRS, financial institutions are required to identify business customers and their beneficial owners who appear to be tax residents outside of the country where they hold their accounts and products. JFD Brokers is set to execute its first reporting about its clients to the Cypriot Tax Authorities, and we kindly request your cooperation on this matter. "
The extremely short timeframe for sending such sensitive data and the fact, that I have never encountered such a request from an international broker gives the issue a shady touch.