PETALING JAYA, Sept 7 – Century Software (M) Sdn Bhd, a wholly-owned subsidiary of Censof Holdings Berhad (“Censof”) announced today that Lembaga Hasil Dalam Negeri Malaysia (LHDNM) portal called HASiL International Data Exchange Facility (HiDEF) Common Reporting Standard (CRS) is now live.
Demands for more standardised levels of tax reporting compliance at the international level have been increasing over the last decade. Co-operation between tax administrations is critical in the fight against tax evasion and protecting the integrity of tax systems. A key aspect of that co-operation is exchange of information. The Common Reporting Standard (CRS) contains the due diligence and reporting requirements that are the foundation of automatic exchange.