CRS, or Common Reporting Standard, is an international tax information exchange standard developed by the Organisation for Economic Co-operation and Development (OECD). It aims to combat tax evasion and promote transparency by requiring financial institutions to automatically report financial account information of non-resident individuals and entities to their respective tax authorities. This allows tax authorities to identify and investigate potential tax evasion cases, ultimately promoting fair and efficient taxation systems globally. CRS has been adopted by over 100 countries, making it a powerful tool in the fight against tax evasion.