Imagine this: you've carefully nurtured a mutual fund portfolio in India, watching it grow from ₹10 lakh to ₹15 lakh over three years.
Now, the time has come to tap into those gains-perhaps for your child’s education abroad or a dream home in Dubai.
But as you hover over the "redeem" button, a nagging doubt creeps in: how much of your hard-earned ₹5 lakh gain will you actually keep after taxes?
Our WhatsApp community of over 5,000 NRIs buzzes with this very question almost every day.
It’s no wonder-NRI taxation is a maze of capital gains rules, TDS deductions, DTAA nuances, and the ever-looming threat of an unexpected tax notice.
This guide is your clear, no-nonsense roadmap to understanding what you owe, how to save, and how to stay on the right side of compliance, from navigating TDS to leveraging the India-UAE DTAA.
Yes, Mutual Fund Returns Are Taxable for NRIs-Here's How
Let's get straight to it. When you invest in Indian mutual funds as an NRI and later redeem or sell units at a profit, those gains are taxable in India.
This applies whether you're based in the UAE, USA, UK, Singapore, or anywhere else.
The tax treatment depends on:
- Type of fund: Equity-oriented or debt-oriented
- Holding period: Short-term or long-term
- Residential status: NRI, RNOR, or returning resident
- DTAA provisions: Whether India has a tax treaty with your country of residence
India taxes you on India-sourced income. Your mutual fund gains are India-sourced, so they're taxable here regardless of where you live.
The good news?
India's capital gains tax rates are relatively moderate compared to many Western countries, and if you're in the UAE (which has no personal income tax), the India-UAE DTAA ensures you won't be taxed twice.
Understanding Equity vs Debt Mutual Funds: Why It Matters for Tax
Before we dive into tax rates, you need to know which category your fund falls under.
SEBI and the Income Tax Department classify mutual funds into two buckets based on equity exposure:
Equity-Oriented Mutual Funds
These funds invest at least 65% of their assets in Indian equity shares. Examples include:
- Large-cap funds (Nifty 50, Sensex index funds)
- Mid-cap and small-cap funds
- Flexi-cap and multi-cap funds
- Sectoral and thematic funds (technology, pharma, banking)
- ELSS (Equity Linked Savings Scheme)
Tax benefit: Lower long-term capital gains tax rates and a ₹1.25 lakh annual exemption.
Debt-Oriented Mutual Funds
These invest less than 65% in equity. Examples include:
- Liquid funds
- Ultra-short duration funds
- Corporate bond funds
- Gilt funds (government securities)
- Balanced advantage funds with less than 65% equity
- International funds investing abroad
- Gold funds and fund of funds
Tax treatment: Gains taxed at your income tax slab rate (no special capital gains treatment since April 2023).
👉 Tip: Check your fund's factsheet or Value Research to confirm if it's equity or debt-oriented. One fund house's "balanced fund" might be equity-oriented while another's is debt-oriented.
Also Read - Types of Mutual Funds
Capital Gains Tax Rates for NRIs: Equity Mutual Funds (2025 Rules)
Post-Budget 2024, here are the updated tax rates for equity mutual funds:
Short-Term Capital Gains (STCG) on Equity Funds
Holding period: Less than 12 months
Tax rate: 20%
Example:
You invested ₹5 lakh in a Nifty 50 index fund in March 2024. You sold in November 2024 (8 months) at ₹6 lakh.
- Gain: ₹1 lakh
- STCG tax: ₹1 lakh × 20% = ₹20,000
- Net gain after tax: ₹80,000
Long-Term Capital Gains (LTCG) on Equity Funds
Holding period: More than 12 months
Tax rate: 12.5% on gains above ₹1.25 lakh per financial year
Example:
You invested ₹10 lakh via SIP over 2 years. After 3 years, your corpus is ₹18 lakh. You redeem everything in FY 2024-25.
- Long-term gain: ₹8 lakh
- Exemption: ₹1.25 lakh (tax-free)
- Taxable gain: ₹6.75 lakh
- LTCG tax: ₹6.75 lakh × 12.5% = ₹84,375
- Net gain after tax: ₹7.15 lakh (₹8 lakh - ₹84,375)
The ₹1.25 lakh exemption applies per financial year, not per fund. If you redeem from multiple equity funds in the same year, the exemption is used only once across all transactions.
According to Income Tax Department guidelines, this exemption is available to all taxpayers, including NRIs, as long as the transaction is subject to Securities Transaction Tax (STT).
Capital Gains Tax Rates for NRIs: Debt Mutual Funds (2025 Rules)
The government removed preferential tax treatment for debt mutual funds from April 1, 2023.
All gains-whether short-term or long-term-are now taxed at your income tax slab rate.
Tax Slabs for NRIs (FY 2025-26)
Under the new tax regime (default for NRIs unless you opt for old regime):Up to ₹4 lakh: Nil
- ₹4–7 lakh: 5%
- ₹7–10 lakh: 10%
- ₹10–12 lakh: 15%
- ₹12–15 lakh: 20%
- Above ₹15 lakh: 30%
Add: 4% Health & Education Cess on total tax amount.
Example 1: Low Capital Gain
You're an NRI with no other Indian income. You invested ₹10 lakh in a corporate bond fund and redeemed it after 18 months at ₹12 lakh in FY 2025-26.
- Gain: ₹2 lakh
- Taxable income: ₹2 lakh (no exemption)
- Tax calculation:
- Up to ₹4 lakh: Nil
- Since your gain is only ₹2 lakh, the entire amount falls within the basic exemption limit.
- Tax: Nil
Example 2: Higher Capital Gain
You invested ₹20 lakh in a short-duration debt fund. After 2 years, you redeem at ₹28 lakh.
- Gain: ₹8 lakh
- Tax calculation:
- Up to ₹4 lakh: Nil
- ₹4–7 lakh (₹3 lakh): 5% = ₹15,000
- ₹7–8 lakh (₹1 lakh): 10% = ₹10,000
- Total tax: ₹25,000
- Add 4% cess: ₹1,000
- Final tax: ₹26,000
For most NRIs with India-sourced income only, debt fund taxation can be manageable if total gains fall within lower slabs.
How TDS (Tax Deducted at Source) Works on Mutual Fund Redemptions
When you redeem mutual fund units, the fund house or platform deducts TDS before crediting the sale proceeds to your account.
This is advance tax collection on behalf of the Income Tax Department.
TDS Rates for NRIs
Type of Gain | TDS Rate for NRIs |
|---|---|
LTCG on equity funds (above ₹1.25 lakh) | 12.5% |
STCG on equity funds | 20% |
Gains on debt funds | 30% (since taxed at slab rate) |
Important: TDS is deducted at the time of redemption, not when you finally file your ITR. If the TDS exceeds your actual tax liability, you claim a refund when filing returns.
Also Read - Taxation on Mutual Funds
Example of TDS Deduction
You redeem equity mutual funds worth ₹20 lakh (cost: ₹12 lakh, gain: ₹8 lakh) after 2 years.
- LTCG: ₹8 lakh
- Exempt: ₹1.25 lakh
- Taxable: ₹6.75 lakh
- TDS deducted: ₹6.75 lakh × 12.5% = ₹84,375
Your bank account receives ₹20,00,000 - ₹84,375 = ₹19,15,625.
Later, when you file ITR, if your actual tax liability is lower (say, because you have deductions or losses), you claim the difference as a refund.
No TDS Certificate? Here's What to Do
After redemption, the fund house uploads TDS details to the Income Tax portal under Form 26AS or Annual Information Statement (AIS). You can download this from your Income Tax e-filing account.
If TDS isn't reflecting (rare, but happens):
- Contact the fund house's investor service desk.
- Request a TDS certificate (Form 16A).
- Use the certificate while filing ITR.
Learn more about tracking TDS: Annual Information Statement Guide.
👉 Tip: Always file your ITR even if TDS has been deducted. Non-filing can lead to notices and interest charges under Section 234A.
DTAA (Double Taxation Avoidance Agreement): How It Protects NRIs
If you're living in the UAE, USA, UK, or most other countries, India has a DTAA with your country of residence. This treaty ensures you don't pay tax twice on the same income.[^2]
How DTAA Works for Mutual Fund Gains
Tax paid in India: You pay capital gains tax in India as per Indian rates (12.5% LTCG or 20% STCG for equity; slab rate for debt).
Tax in your country of residence: Most countries either don't tax foreign capital gains (like the UAE) or allow you to claim foreign tax credit for taxes paid in India (like the USA).
Net effect: You pay tax only once-in India-and are protected from double taxation.
India-UAE DTAA: Special Benefits for UAE-Based NRIs
The UAE has no personal income tax, so capital gains from Indian mutual funds are taxed only in India at the rates we discussed.[^6]
Key conditions:
- You must be a UAE tax resident (live there for 183+ days in the financial year).
- Hold a Tax Residency Certificate (TRC) issued by the UAE Federal Tax Authority.
- Declare the income in your Indian ITR and attach the TRC.
The TRC proves to Indian authorities that you're a UAE resident and eligible for DTAA benefits.
Get your TRC from the UAE Federal Tax Authority online portal (takes 2–3 weeks). Learn how: UAE Tax Residency Certificate Guide.
India-USA DTAA: Capital Gains Treatment
The India-USA DTAA allows capital gains from Indian securities to be taxed in India. The USA then allows a foreign tax credit for the taxes you paid in India.[^7]
Example:
You're a US resident NRI. You paid ₹1 lakh in LTCG tax in India. When filing your US tax return, you report the gain and claim a $1,200 foreign tax credit (approx., depending on exchange rates).
Your net US tax liability reduces by the amount you already paid in India, preventing double taxation.
What If There's No DTAA?
If you're resident in a country with no DTAA with India (rare-India has treaties with 90+ countries), you may face double taxation. You'd pay tax in India and again in your country of residence with no credit mechanism.
Check the full list: DTAA Countries with India.
Do You Need to File an Income Tax Return (ITR) as an NRI?
Yes, in most cases. Here's when filing is mandatory:
When You Must File ITR
- Your total income in India exceeds ₹2.5 lakh (including capital gains, interest, rental income).
- You've sold/redeemed mutual funds and want to claim TDS refunds or carry forward losses.
- You have short-term capital gains (filing is mandatory even if income is below ₹2.5 lakh).
- You want to claim DTAA benefits (TRC must be attached to your ITR).
When Filing Is Optional (But Recommended)
- Your gains are under ₹1.25 lakh (fully exempt) and you have no other income.
- You have losses and want to carry them forward to offset future gains (you must file within the due date to carry forward losses).
According to the Income Tax Department, NRIs must file ITR-2 if they have capital gains from mutual funds, property, or stocks.
ITR Filing Deadline for NRIs
July 31 of the assessment year (for income earned in the previous financial year).
Example: For FY 2024-25 (April 2024 to March 2025), the deadline is July 31, 2025.
If you miss this deadline:
- You can file a belated return until December 31, but you cannot carry forward losses.
- Late filing fee: ₹5,000 (₹1,000 if income is below ₹5 lakh).
- Interest under Section 234A applies if you have a tax liability.
Learn the complete process: How to File Income Tax Return as an NRI.
👉 Tip: Even if your LTCG is below ₹1.25 lakh and fully exempt, file a nil return. It creates a clean record and avoids future scrutiny.
How to Calculate Your Capital Gains: Step-by-Step
Let's break down the math so you can calculate exactly what you owe.
Step 1: Determine the Type of Gain
- Equity funds held >12 months: LTCG
- Equity funds held \<12 months: STCG
- Debt funds (any holding period): Taxed at slab rate
Step 2: Calculate Sale Value and Cost
- Sale value: Total amount received on redemption (excluding exit load, if any).
- Purchase cost: Total amount invested (including all SIP installments if applicable).
For SIPs, each installment is treated as a separate investment with its own purchase date.
Example:
You SIPed ₹10,000/month for 24 months in an equity fund (total invested: ₹2.4 lakh). After 3 years from the first SIP, you redeem everything for ₹4 lakh.
- First 12 SIPs (completed >12 months): LTCG
- Last 12 SIPs (completed \<12 months at redemption): STCG
Most platforms auto-calculate this using FIFO (First In First Out) method and provide a capital gains statement.
Step 3: Apply Exemptions and Rates
- LTCG on equity: ₹1.25 lakh exemption, then 12.5% on balance.
- STCG on equity: 20% on entire gain.
- Debt funds: Add gains to your income, apply slab rate.
Step 4: Deduct TDS Already Paid
If the fund house deducted TDS, subtract it from your tax liability. If TDS exceeds liability, you get a refund.
Also Read -DTAA and Capital Gains Tax: The Confusing Bits Explained
Special Case: Taxation If You Have Multiple Redemptions in a Year
The ₹1.25 lakh LTCG exemption applies per financial year, not per transaction.
Example:
In FY 2024-25, you redeem:
- Fund A: LTCG of ₹3 lakh (March 2024)
- Fund B: LTCG of ₹2 lakh (October 2024)
Total LTCG: ₹5 lakh
- Exemption: ₹1.25 lakh (used only once)
- Taxable LTCG: ₹3.75 lakh
- Tax: ₹3.75 lakh × 12.5% = ₹46,875
The exemption doesn't apply separately to each fund. It's a once-per-year benefit across all equity LTCG transactions.
Can You Offset Losses Against Gains?
Yes. If you have losses from some mutual funds, you can set them off against gains from others-but there are rules.
Set-Off Rules
Type of Loss | Can Be Set Off Against |
|---|---|
LTCG loss (equity) | LTCG or STCG (equity) |
STCG loss (equity) | LTCG or STCG (equity) |
Loss from debt funds | Any capital gains or income |
*Note: Loss from debt funds: Any capital gains (LTCG or STCG). For debt funds purchased after April 1, 2023, losses are always short-term and can be set off against any capital gains." (No set-off against other income heads like salary.)
Carry Forward of Losses
If your losses exceed your gains in a year, you can carry forward the losses for up to 8 years-but only if you file your ITR before the original due date (July 31).
Example:
FY 2024-25:
- Fund A gain: ₹5 lakh
- Fund B loss: ₹7 lakh
- Net loss: ₹2 lakh
You file ITR by July 31, 2025, and declare the ₹2 lakh loss. In FY 2025-26, if you have ₹4 lakh gain, you can offset the carried-forward ₹2 lakh loss, reducing taxable gain to ₹2 lakh.
This is a huge tax-saving opportunity. Don't miss the filing deadline.
Learn more: NRI Tax Filing: Common Mistakes to Avoid.
Taxation When You Switch Between Mutual Funds
"Switching" from one mutual fund to another is treated as redemption + fresh purchase. It triggers capital gains tax.
Example:
You have ₹10 lakh in Fund A (cost: ₹8 lakh). You switch to Fund B.
- You've effectively redeemed Fund A at ₹10 lakh.
- Capital gain: ₹2 lakh.
- Tax applies as per holding period and fund type.
- ₹10 lakh is then invested fresh in Fund B.
Many investors mistakenly think switching is tax-free. It's not. Plan switches carefully, especially if you're sitting on large gains.
👉 Tip: If you're near the ₹1.25 lakh LTCG exemption limit, book partial profits by switching in tranches across financial years to maximize the exemption.
Repatriation and Tax: Do You Pay Tax Again When Sending Money Abroad?
No. Once you've paid capital gains tax in India and filed ITR, repatriating the money to the UAE or elsewhere does not attract additional tax in India.
Repatriation Rules for NRIs
- From NRE account: Fully repatriable (principal + gains) with no limits.
- From NRO account: Up to $1 million per financial year. Requires Form 15CA/15CB for amounts above certain thresholds.
Also Read -How to Repatriate Funds from NRO/NRE Accounts
Also Read -How to Repatriate Funds from an NRI Account to Abroad
How GIFT City Mutual Funds Differ in Taxation
India's GIFT City (Gujarat International Finance Tec-City) offers an alternative: USD-denominated mutual funds with different tax treatment.
Tax Benefits of GIFT City Funds for NRIs
- Capital gains: Tax-free for NRIs (if the fund is domiciled in GIFT City IFSC).[^11]
- Currency: Denominated in USD, EUR, or other foreign currencies-no rupee depreciation risk.
- Repatriation: Fully repatriable with no caps.
Trade-off:
- Higher minimum investment (often $5,000+).
- Fewer fund options compared to mainstream Indian mutual funds.
- Nascent ecosystem-fewer track records.
At Belong, we're expanding access to GIFT City investment products, including Alternative Investment Funds (AIFs) and mutual funds. Explore: GIFT City Investments for NRIs.
Compare: GIFT City FD vs NRE/NRO FDs.
What If You Return to India? How Does Tax Change?
When you return to India and become a resident, your mutual fund taxation changes.
From NRI to Resident
Your residential status determines your tax liability. Use our Residential Status Calculator to check your exact status.
Scenario 1: Resident and Ordinarily Resident (ROR)
- You're taxed on global income.
- Mutual fund taxation: Same rates as NRIs (12.5% LTCG on equity, slab rate on debt).
- No TRC needed (you're now a resident).
Scenario 2: Resident but Not Ordinarily Resident (RNOR)
If you've been an NRI for 9 of the last 10 years, you qualify as RNOR for 2 years after returning. RNOR status means:
- You're taxed only on India-sourced income.
- Foreign income (like overseas salary, foreign stocks) is not taxed in India.
- Mutual fund gains from Indian funds are still taxed (they're India-sourced).
Also Read - Difference Between NRI and Resident Tax Filing in India
Learn more: NRI Status vs Resident Status.
Do You Need to Convert Your Mutual Fund Folio?
Yes. Inform your fund house or platform about your residential status change. Update your KYC with an Indian address. Your folio remains the same; only your status updates from NRI to Resident.
Guide: How to Convert NRI Account to Resident Account.
Taxation on Dividend Income from Mutual Funds
Since April 2020, dividend income from mutual funds is taxable in the hands of investors (Dividend Distribution Tax abolished).[^12]
Dividend Tax for NRIs
- Tax rate: Taxed at your slab rate (same as debt fund gains).
- TDS: 20% TDS deducted at source on dividends paid to NRIs (plus surcharge and cess if applicable).
Example:
You receive ₹50,000 dividend from an equity mutual fund.
- TDS deducted: ₹50,000 × 20% = ₹10,000
- You receive: ₹40,000 in your account.
When you file ITR, if your total income falls in the 5% or 10% slab, you can claim a refund of excess TDS.
👉 Tip: Growth plans (where gains are reinvested) are more tax-efficient than dividend plans for NRIs. You pay tax only on redemption, not annually on dividends.
Compare: Growth vs Dividend Plans for NRIs.
TDS on Non-Resident Indians: Section 195 and Form 15CA/15CB
When you redeem mutual funds and repatriate proceeds abroad (from NRO accounts), banks may require Form 15CA and 15CB.
What Are These Forms?
- Form 15CA: A declaration filed online by you (the remitter) stating the nature and amount of payment.
- Form 15CB: A certificate from a Chartered Accountant confirming that applicable taxes have been paid or deducted.
When Are They Required?
- For repatriation of sale proceeds above ₹5 lakh in a financial year from NRO accounts.
- Not required if repatriating from NRE accounts (since NRE is fully repatriable by default).
Learn the process: How to File Form 15CA and 15CB Online.
For broader TDS rules: TDS for NRIs: Section 195 Explained.
Common Tax Mistakes NRIs Make with Mutual Funds
1. Not Filing ITR Even When TDS Is Deducted
TDS is advance tax, not final tax. If you don't file ITR, you can't claim refunds, carry forward losses, or prove tax compliance.
2. Ignoring the ₹1.25 Lakh LTCG Exemption
Many NRIs redeem large amounts in one shot, using the exemption only once. Splitting redemptions across financial years can double or triple the exemption benefit.
3. Mixing NRE and NRO Without Planning
Using NRO accounts for mutual funds can complicate repatriation. Always prefer NRE for investments you plan to bring back abroad.
4. Not Claiming DTAA Benefits
Failing to attach a TRC or not declaring DTAA relief in ITR can lead to double taxation or tax authority notices.
5. Redeeming Too Early (Within 12 Months)
A 20% STCG rate is significantly higher than 12.5% LTCG. If you're close to the 12-month mark, wait a few more days to qualify for LTCG.
6. Not Keeping Redemption Statements
Income Tax Department can ask for proof of transactions even 6–7 years later (under Section 153). Always save mutual fund statements, bank transfer receipts, and ITR acknowledgments.
Learn more: Common NRI Tax Filing Mistakes.
How to Minimize Tax on Mutual Fund Gains Legally
1. Use the ₹1.25 Lakh LTCG Exemption Every Year
Book partial profits annually to stay within the exemption limit. Reinvest if needed.
2. Harvest Tax Losses
If you have losing funds, sell them to book losses and offset against gains. Buy back after a few days if you still like the fund.
3. Invest Through NRE Accounts
Simplifies repatriation and avoids Form 15CA/15CB paperwork.
4. Consider GIFT City Funds for Large Portfolios
Tax-free capital gains on GIFT City mutual funds can save significant amounts if you're a high-net-worth investor.
5. Plan Redemptions Across Financial Years
Split large redemptions to use the LTCG exemption multiple times.
6. Hold Equity Funds for >12 Months
Avoid the 20% STCG trap. Patience pays.
7. Claim DTAA Benefits
Always attach your TRC to avoid double taxation.
👉 Tip: Work with a tax advisor or use Belong's tax planning tools before making large redemptions. A little planning can save lakhs.
What Happens If You Don't File ITR or Pay Tax?
Ignoring taxes isn't an option. Here's what happens:
Consequences of Non-Filing
- Late filing fee: Up to ₹10,000 (reduced to ₹1,000 if income \<₹5 lakh).
- Interest under Section 234A: 1% per month on unpaid tax.
- Loss of carry-forward: You cannot carry forward capital losses if you miss the July 31 deadline.
- Notices from Income Tax Department: The system auto-generates notices when TDS is deducted but no ITR is filed.
- Penalty under Section 271F: Up to ₹10,000 for not filing when required.
Consequences of Tax Evasion
If you intentionally hide income or understate gains:
- Penalty under Section 271(1)(c): 50–200% of tax evaded.
- Prosecution under Section 276C: Imprisonment up to 7 years for willful tax evasion.
India's tax authorities now have access to global financial data through Automatic Exchange of Information (AEOI) under the Common Reporting Standard (CRS).
They know about your foreign accounts and remittances.
Don't take risks. File on time, pay taxes, stay compliant.
Tools and Resources from Belong to Help You Stay Tax-Compliant
1. Residential Status Calculator
Determine if you're an NRI, RNOR, or Resident in under 2 minutes. This impacts your tax liability significantly.
2. Compliance Compass
Stay on top of tax filing deadlines, FEMA rules, and RBI requirements based on your profile.
3. NRI FD Rate Comparison
Compare interest rates on NRE, NRO, FCNR, and GIFT City FDs. Useful for parking funds in debt while planning tax-efficient equity redemptions.
4. Rupee vs Dollar Tracker
Monitor INR/AED and INR/USD trends to time your redemptions and repatriation better.
5. WhatsApp Community
Join 5,000+ NRIs discussing tax strategies, fund recommendations, and compliance questions in real time.
6. Belong App
Track your mutual fund portfolio, get tax reports, and access personalized investment advice. Download for iOS and Android.
Final Takeaway: Stay Informed, Stay Compliant, Stay Ahead
Mutual fund returns are taxable for NRIs, but the rules are clear, the rates are moderate, and with DTAA protection, you're not at risk of double taxation. The key is understanding the rules, planning your redemptions smartly, and filing your ITR on time.
Here's your action plan:
- Know your funds: Equity or debt? This determines your tax rate.
- Plan redemptions: Use the ₹1.25 lakh LTCG exemption every year by splitting redemptions across financial years.
- Hold long-term: Equity funds held >12 months get preferential 12.5% LTCG tax instead of 20% STCG.
- Claim DTAA: Attach your TRC to your ITR to avoid double taxation.
- File ITR by July 31: Even if TDS is deducted, file to claim refunds and carry forward losses.
- Keep records: Save all transaction statements, remittance receipts, and TDS certificates for at least 7 years.
Taxes shouldn't stop you from building wealth in India. With the right knowledge and tools, you can invest confidently, minimize tax, and repatriate your gains smoothly.
Join our WhatsApp community for daily tax tips, fund recommendations, and peer support. Download the Belong app to track your portfolio, monitor tax liabilities, and access personalized advice.
Have questions about your specific situation? Our team of financial experts at Belong is here to help. Let's make your investment journey smoother, smarter, and tax-efficient.
Sources
Income Tax Act, 1961, Section 9 - Income deemed to accrue or arise in India.
Central Board of Direct Taxes, "Double Taxation Avoidance Agreements," Ministry of Finance.
Taxation of Debt Funds - Clear Tax
ClearTax: Set Off and Carry Forward Capital Losses
Income Tax India: FAQs on Dividend Income
International Financial Services Centres Authority (IFSCA), "Tax Benefits in GIFT City," 2024.
Organisation for Economic Co-operation and Development (OECD), "Common Reporting Standard," 2024
