1. Frameworks we follow
We comply with the Common Reporting Standard (CRS) developed by the OECD, as implemented in the EU through the Directive on Administrative Cooperation (DAC2), and with any further reporting requirements introduced by DAC6, DAC7, and DAC8 as they come into force in our member states.
2. Self-certification
You may be asked to provide a self-certification of your tax residence and taxpayer identification number at onboarding or if your circumstances change. Failure to provide accurate information may result in us closing the account.
3. Reports we send
Where required, we file annual reports with local tax authorities listing reportable accounts, their balances, and certain payments credited during the year. The local tax authority may share this information with your country of residence.
4. Your responsibilities
You remain responsible for declaring your worldwide income to your tax authority and paying any tax due. NextPayment is not a tax advisor; please consult a qualified professional for advice specific to your circumstances.