Compliance, Crypto & Outsourced Reporting
CRS Reporting
What is CRS Reporting in Gibraltar?
The Common Reporting Standard (CRS), developed by the Organisation for Economic Co-operation and Development (OECD), is a global framework designed to combat tax evasion through the automatic exchange of financial-account information between participating jurisdictions.
In Gibraltar, Reporting Financial Institutions (RFIs) must collect, review and report information on reportable account holders and controlling persons to the Income Tax Office (ITO) via the Automatic Exchange of Information (AEOI) portal.
New supervisory powers in Gibraltar
Regulation updates in early 2026 grant the Competent Authority the power to conduct on-site inspections, including:
Review of governance, processes, policies, and systems
Access to records (including electronic data)
Interviews with relevant staff
Ability to conduct unannounced inspections where justified
Non‑cooperation constitutes a regulatory offence
Failure to comply with the regulations can lead to fines of up to £10,000.
For Gibraltar‑based banks, investment firms, insurers, trust companies, fund managers and soon – crypto‑asset service providers that fall within CRS scope, CRS reporting involves:
Identifying reportable accounts
Classifying clients and products
Collecting required data
Preparing and submitting XML reports or input each reportable account one-by-one
Ongoing remediation and corrections
PwC already supports institutions in Gibraltar across the full CRS lifecycle. If you are asking “How can I automate CRS reporting”, our answer is: let us build and run the framework with you. Each service can be designed to address crypto‑asset reporting and to anticipate future crypto obligations.
Our offerings
- Managed CRS Reporting
- CRS Data Preparation
- CRS Compliance Review
Managed CRS Reporting
We run your CRS reporting end-to-end
CRS Data Preparation
We transform and validate your data; you submit
CRS Compliance Review
We independently test your framework before the regulator does
Why outsource CRS data preparation and reporting to PwC?
Building and retaining an in‑house team that covers tax, regulation, data, XML and crypto product knowledge is expensive and high‑risk. Outsourcing to PwC can help you to:
- Specialised, integrated expertise
- Proven tools and methods, tailored to Gibraltar
- Risk reduction and regulatory confidence
- Scalable, future‑proof solutions and reduced costs
- Adapt to changing regulatory requirements, including crypto reporting
Why conduct a CRS Compliance Review?
If your question is “are we ready if the Gibraltar regulator visits or requests an independent CRS review?” – especially with crypto products in scope – you need a structured compliance review.
An independent, risk‑based review of your CRS framework, with optional coverage of your crypto readiness, gives you that your house is in order.
Our team of experts give you the benefit of:
- Independence and credibility
- Breadth of perspective
- Targeted, risk‑based insight
- Actionable outcomes
- Regulator‑aligned methodology
- Crypto experience
- Implementation support
We can help you redesign processes, remediate historical reports, enhance controls, and, where needed, assist with regulator engagement and responses.
Areas that we cover include:
- Governance, policies, and oversight
- FI classification
- Managed investment entities
- Due diligence procedures
- Self-certification
- Undocumented accounts
- NRFI categories and classification
- CRS reporting, including accuracy, completeness, and timeliness
- Data quality and IT controls
- Training and awareness
Are you ready to report on crypto assets?
In early 2026 the local CRS legislation was updated to capture entities investing in or managing crypto‑assets, including crypto‑asset derivatives, and it is expected that crypto reporting requirements will increase in the future. These changes bring increased complexity and technical challenges. You can respond to this risk by engaging with PwC.
For more information, please reach out to our CRS reporting experts.
Contact us
