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April 2014 Volume 9, Issue 4CRP Aids Water Quality From Water Into Wine Wineries in South DakotaSystem Spotlight:Lewis & Clark Regional Water System WELL Named Rural Water System of the Micromanagers
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CRP AIDS stands for Common Reporting Standard (CRS) and Automatic Exchange of Information (AEOI) Information Declarations. It is a reporting standard used for the automatic exchange of financial account information between tax authorities to combat tax evasion.
Financial institutions such as banks, investment firms, and insurance companies are required to file CRP AIDS to report information on their account holders to tax authorities.
To fill out CRP AIDS, financial institutions need to collect information on their account holders, including name, address, tax identification number, and account balance, and report this information to the tax authorities.
The purpose of CRP AIDS is to promote transparency and combat tax evasion by ensuring that financial account information is automatically exchanged between tax authorities.
Financial institutions must report information on their account holders, including name, address, tax identification number, account balance, and any income earned on the account.
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