Saudi Arabia Signs CRS 2.0 Addendum, Expanding Global Tax Transparency Requirements

KSA, 19 August, 2026: Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) has signed the Addendum to the Multilateral Competent Authority Agreement (MCAA), adopting the OECD’s updated Common Reporting Standard (CRS 2.0).

ZATCA signed the addendum on 9 April 2026, strengthening Saudi Arabia’s commitment to automatic exchange of financial account information and international tax transparency.

CRS 2.0 significantly expands the existing framework, including coverage of e-money, Central Bank Digital Currencies (CBDCs) and certain crypto-assets. It also introduces enhanced due diligence procedures, expanded reporting data requirements and updated definitions for financial institutions and assets.

The changes could bring previously out-of-scope businesses in Saudi Arabia within CRS requirements and increase reporting obligations for existing Reporting Financial Institutions (RFIs).

Businesses are encouraged to begin gap and impact assessments, review their technology and data systems, update due diligence and onboarding procedures, and assess their reporting capabilities ahead of the anticipated CRS 2.0 implementation.

The updated framework is expected to increase compliance complexity and regulatory scrutiny, making early preparation important for affected businesses across the KSA financial sector.