COMMON REPORTING STANDARD (CRS) – UNDERSTANDING THE INTENTION AND OVERCOMING CHALLENGES

An article from the International Chamber of Commerce Academy says that since the introduction of OECD CRS and the US Foreign Account Tax Compliance Act (FATCA) agreements, tax transparency has become increasingly important for financial institutions and wealth managers around the globe.  Why and what kind of information needs to be reported by financial institutions?  What are the major challenges?  How does it influence the client relationship and experience?  What is key for financial institutions?  The article, a guest post, sets out to try to answer some of these questions.

https://icc.academy/understanding-common-reporting-standard

I would be grateful for any modest contribution for my time and ongoing costs of computer, relocation, and (still ongoing) removal costs, I have a page, where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s