The State Tax Service will receive more information about the foreign assets of tax residents of Ukraine after the expansion of the international CRS standard. The exchange will include not only bank accounts but also certain digital assets and data about foreign companies. Ukrainians planning to open an account abroad need to consider this mechanism. This is reported by Minfin.
What data about Ukrainians abroad will the tax authorities receive
The updated standard from the Organisation for Economic Co-operation and Development expands the list of financial instruments, the information about which can be exchanged between the tax administrations of different countries.
The system will include data on accounts in foreign banks and investment institutions, shares in foreign companies and partnerships, as well as certain electronic money and central bank digital currencies.
A separate area is indirect investments in crypto assets through derivatives and investment structures. The requirements for businesses regarding the identification of ultimate controlling persons of foreign companies and detailing the relevant reporting are being tightened.
At the same time, the mere fact of having an account abroad does not automatically imply the existence of a tax liability. Tax residency, source and type of income matter. CRS primarily provides tax authorities with information for cross-referencing with declarations.
The Tax Service will be able to automatically reconcile accounts and declarations
The main risk arises in case of discrepancies. If a foreign financial institution identifies a client as a tax resident of Ukraine and transfers information about their account or company, the Tax Service will be able to compare this data with Ukrainian tax reporting.
If there is no corresponding foreign income in the declaration or the necessary report on controlled foreign companies is missing, the discrepancy may become grounds for a tax inquiry or further investigation.
International exchange becomes yet another source of information for income control. The tax authorities already use several data acquisition channels, even without having direct automatic access to the bank accounts of individuals in Ukraine.
CRS, CFC and CARF form a new control system
CRS is to work alongside the rules regarding controlled foreign companies and the CARF standard. The latter is designed for international exchange of information on cryptocurrency transactions.
Thus, three levels of financial transparency are formed. CRS covers foreign financial accounts, CFC rules allow for the control of Ukrainian residents' participation in foreign companies, while CARF aims to extend international exchange to crypto assets.
In 2026, representatives of the Tax Service already underwent practical training at the Global Forum OECD regarding the preparation of Ukraine for the implementation of CARF.
For account holders and international business structures, the coincidence of information across different jurisdictions becomes key. Experts recommend checking tax residency, declarations, CFC reports, and information that foreign financial institutions may transmit in advance.
Recall that previously Inkorr explained when transfers to a card are taxed and which income must be declared.