| A. | These Regulations have effect for and in connection with the implementation of obligations which may arise or arise under— |
| (1) | the following agreements or arrangements, in respect of which these Regulations apply separately except where the context otherwise requires: |
| (a) | the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (“CRS MCAA”) signed by the Competent Authority of South Africa on the 23rd of October 2014, and the Addendum to the CRS MCAA, which gives effect to the revised CRS, signed by the Competent Authority of South Africa on the 26th of November 2024, with the Participating Jurisdictions as updated and published by the OECD from time to time; and |
| (b) | any other multilateral or bilateral agreement or arrangement between South Africa and another jurisdiction, as updated and published by SARS from time to time, which provides for the implementation of the Standard, or |
| (2) | these regulations in respect of or in connection with obtaining, maintaining and provision to SARS of information regarding a Reportable Jurisdiction Person in any jurisdiction not included under subparagraph A(1) for domestic purposes or subsequent exchange of information when such jurisdiction becomes a jurisdiction included under subparagraph A(1). |
| B. | The OECD developed the Standard to improve international tax compliance. The Standard encompasses the CRS for automatic exchange of information under an agreement or arrangement referred to in paragraph A. |
| C. | These Regulations reflect the changes to the CRS required to enable South Africa to comply with its obligations under an agreement or arrangement referred to in paragraph A in terms of the Standard. |
| D. | South Africa’s selection of jurisdictional choices permitted under the CRS and the Commentaries to the CRS does not detract from the fact that these Regulations must be interpreted in accordance with the Commentaries. |
E.
| (1) | The term “Commentaries on the CRS” means the Commentaries on the Standard for the Automatic Exchange of Financial Account Information in Tax Matters, released by the OECD in the document titled OECD (2017), Standard for Automatic Exchange of Financial Account Information in Tax Matters, Second Edition, OECD Publishing, Paris, and as amended by the OECD in the document titled OECD (2023), International Standards for Automatic Exchange of Information in Tax Matters: Crypto-Asset Reporting Framework and 2023 update to the Common Reporting Standard, OECD Publishing, Paris, as supplemented by— |
| (a) | the Implementation Handbook for the Standard for the Automatic Exchange of Financial Account Information in Tax Matters, released by the OECD in the document titled OECD (2018), Standard for Automatic Exchange of Financial Information in Tax Matters - Implementation Handbook – Second Edition, OECD, Paris; |
| (b) | the CRS-Related Frequently Asked Questions, released by the OECD in the document titled OECD (July 2025), CRS-Related Frequently Asked Questions, OECD, Paris; and |
| (c) | the Model Mandatory Disclosure Rules for CRS Avoidance Arrangements and Opaque Offshore Structures, released by the OECD in the document titled OECD (2018), Model Mandatory Disclosure Rules for CRS Avoidance Arrangements and Opaque Offshore Structures, OECD, Paris, |
as updated from time to time.
| (2) | In the event of any conflict between the Commentaries on the CRS and the supplementary material in subparagraph E(1)(a), (b) or (c), the former shall prevail. |
