Chapter XIIA of Income Tax Rules, 2002 and Regulations based on the OECD Common Reporting Standard (CRS) require
Paper Free Pvt. Limited to collect and report certain information about each person’s tax
residency. If your tax residence is located outside Pakistan and/or United States of America (USA), we may be legally
obliged to pass on the information in this form and other financial information with respect to your financial accounts
to Federal Board of Revenue (FBR) and they may exchange this information with tax authorities of another jurisdiction
or jurisdictions pursuant to intergovernmental agreements to exchange financial account information.
You can find summaries of defined terms in the Glossary of Terms provided at page 3 of this form.
Please complete this form if you are an individual, a sole trader or sole proprietor. Please use a separate form for each
individual of a Joint Account. In case of Minor Account, guardian should complete this form on behalf of account holder
This form will remain valid unless there is a change in circumstances relating to information, such as the account
holder’s tax status or other information that makes this form incorrect or incomplete. In that case you must notify us
and provide an updated self-certification.
Please complete the following table indicating (i) the country where the Account Holder is resident for tax purposes and (ii)
the Account Holder’s Taxpayer Identification Number (TIN) or functional equivalent for each country indicated. . Please refer
to the OECD website for more information on tax residency http://www.oecd.org/tax/automatic-exchange/crsimplementation-and-assistance/tax-residency/
If Tax Identification Number (TIN) is not available, please tick () the appropriate box with reason A, B or C as defined
below and provide Supporting Evidence:
Reason A - The country/jurisdiction where the Account Holder is resident does not issue TINs to its residents.
Reason B - The Account Holder is otherwise unable to obtain a TIN or equivalent number (Please provide reasons if this is
Reason C - No TIN is required. (Note: Only select this reason, along-with evidence, if the domestic law of the relevant country
does not require the collection of the TIN issued by such country).
In case Investor has the following Indicia/indication pertaining to a foreign country and yet declares self to be non-tax
resident in the respective country, he/she is required to provide relevant Curing Documents as mentioned below:
CRS Indicia/indication Observed
Residence/mailing address in a
country other than Pakistan or/and
Telephone number in a country other
than Pakistan or/and USA.
Mandate Holder of account having
residence/ mailing address in a
country other than Pakistan or/and
“Hold mail” or “in care of” address in a
country other than Pakistan or/and
Documentation required for Cure of CRS Indicia
Obtain reasonable written explanation along-with relevant documentary
Examples of reasonable explanation may include a statement by the individual
1) is a student or teacher or trainee with a foreign address/contact number and
holds the appropriate visa;
2) is assigned to a diplomatic post or a position in a consulate or embassy with a
foreign address/contact number;
3) is a seafarer or frontier worker or employee working on a truck or train
travelling between countries/jurisdictions.
4) visited, for example, United Kingdom for leisure/holidays for less than 6
months; therefore, his/her NICOP shows the Current Address/Country of Stay of
the United Kingdom.
Examples of documentary evidence(s) are as follows:
Copy of Passport, Visa and/or other documentary evidence establishing the nontax resident status of relevant foreign country
Note: These are selected summaries of defined terms provided to assist you with the completion of this form. Further details
can be found within the OECD Common Reporting Standard and the associated Commentary to the CRS at the
CRS CRS is the Common Reporting Standard under which member states of the European Union and countries that have
concluded Competent Authority Agreements exchange financial account information.
Participating country/jurisdiction means a jurisdiction/country (i) with which an agreement is in place pursuant to which
there is an obligation in place to provide the certain information, and (ii) which is identified in a published list to be made
available on FBR’s web portal.
Reportable Account The term “Reportable Account” means an account held by one or more Reportable Persons.
Reportable Jurisdiction means all jurisdictions other than Pakistan and the United States of America;
A Reportable Person is defined as an individual who is tax resident in a Reportable Jurisdiction/country under the tax laws of
TIN (including Functional Equivalent)
TIN means Taxpayer Identification Number or any other functional equivalent. A TIN is a unique combination of letters or
numbers assigned by a country/jurisdiction to an individual or an Entity and used to identify the individual or Entity for the
purposes of administering the tax laws of such country/jurisdiction.
A. You are TAX resident, If you have stayed for more than:
3 Month (≈ 91 Days) in the any of following country(ies) Guernsey, South Africa
6 Month (≈ 183 Days) in the any of following country(ies) Andorra, Australia, Austria, Belize, Brazil, Bulgaria, Canada, Colombia, Croatia, Cyprus, Czech Republic,
Chile, Costa Rica, Denmark, Estonia, Faroe Islands, Finland, Gibraltar, Greece, Germany, Greenland, Hong
Kong (China), Hungary, India, Iceland, Ireland, Isle of Man, Israel, Jersey, Korea, Latvia, Liechtenstein,
Lithuania, Malaysia, Malta, Mauritius, Montserrat, New Zealand, Norway, Poland, Portugal, Romania,
Russian Federation, Saint Lucia, Saint Vincent & the Grenadines, Saudi Arabia, Singapore, Slovak Republic,
Slovenia, Spain, Switzerland, Uruguay, Sweden, Turkey, UK
1 Year (≈ 12 Months) in the any of following country(ies) Argentina, China, Japan
B. Tax Exempted Jurisdictions
Tax Exempted Jurisdictions (There is no Income Tax applicable on Individuals)
Bermuda, Cayman Islands, Kuwait, Seychelles, Turks and Caicos Islands
The Foreign Account Tax Compliance Act (FATCA) was signed into U.S. law on March 18, 2010. It is aimed at preventing U.S. taxpayers from using accounts held outside of the U.S. to evade taxes. Any financial institution that fails to comply with FATCA will face a 30% withholding tax on a wide range of U.S. sourced payments to its clients. Under U.S. federal tax law, Paper Free Investment Management Ltd. (Paper Free) is required to request certain taxpayer information from certain persons who maintain an account at Paper Free (whether such persons are U.S. taxpayers or not). Information collected will be used solely to fulfil Paper Free requirements under U.S. federal tax law and will not be used for any other purpose.