This global effort has led to the development of the OECD's Common Reporting Standard (CRS), inspired by FATCA. The CRS promotes Automatic Exchange of Information between participating countries, extending beyond U.S.-focused reporting. Many nations now participate in both FATCA and CRS, creating...
FATCA and CRS – a pair of unlikely twins and what they mean for families and family officesField, JoeThe International Family Offices Journal
In short, BEFORE December 2016, a FATCA/CRS declaration will be obtained for ALL accounts – owned by Residents or Non-Residents. And, It is very critical to understand the CRS/FATCA declaration, which I have explained in my another blog:FATCA / CRS Declaration: Requirement, Importance and D...
Notwithstanding the fact that the majority of the affected jurisdictions have already met the OECD standards for transparency, Base Erosion and Profit Shifting (BEPS), FATCA, Common Reporting Standards (CRS) and country-by-country reporting, by imposing economic substance requirements the EU ha...
Capewell, Christopher