Jersey launches consultation on changes to CRS and FACTA Regulations

Published on: 13 February 2024

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Article summary

The government of Jersey is seeking views on proposals to the Common Reporting Standard (CRS) and US Financial Account Tax Compliance Act (FACTA) Regulations. These changes aim to ensure Jersey’s legal framework for the CRS remains fully in line with global expectations and to address concerns about a potential lack of clarity regarding the way certain penalties are imposed. Responses to the consultation will inform changes to the Regulations which will be considered by the States Assembly in summer 2024. The deadline for submitting comments is 18 March 2024.

Jurisdiction(s): Jersey

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