AGRC | FATCA, CRS & the Automatic Exchange of Information: A Look at Compliance in International Taxation

One subject we haven’t yet broached as part of AGRC’s webinar series is international taxation and the many rules that financial institutions have to comply with when operating in that sector. Hence, we thought it’d be a good idea to take a closer look at the Foreign Account Tax Compliance Act (FATCA), Common Reporting Standard (CRS), and the automatic exchange of information, reporting requirements set forth by the US and OECD to curtail global tax evasion.

 

As part of both FATCA and CRS, financial institutions across the globe have to share financial account information for foreign account holders with their home jurisdictions. In FATCA’s case, this applies solely to US citizens or residents who have bank accounts abroad, while in CRS’s, close to 100 jurisdictions are signatories and have to exchange information with each other.

 

In this webinar, which will take place on Wednesday, March 15 at 12:00 pm UK, our expert panellists will provide you with an introduction to FATCA and CRS compliance as a financial institution, their main challenges, how effective they have been in preventing tax evasion, and more.

 

Below are some of the questions to be discussed:

– How did FATCA and CRS come to be and what are their main objectives?

– While similar in scope, FATCA and CRS are somewhat different. Can you explain how they differ? o What’s the process by which financial institutions have to go through when reporting? Are there any conditions that must be met to trigger reporting?

– Are there any penalties associated with non-compliance?

– What are some of the main reporting challenges financial institutions might face when trying to report?

– What have been some of the unintended consequences of both of these automatic exchange of information rules?

– What’s the future outlook for both FATCA and CRS?

– And plenty more!

 

Speakers

Mateo Jarrin Cuvi | Global Manager for Partners & Media | The Association of Governance, Risk & Compliance

Samantha Bourton | Lecturer | UWE Bristol, UK

Tags

AGRC
  • Date : 15 Mar 2023
  • Time : 2:00 pm - 3:00 pm (Europe/Athens)
  • Venue : Online Event

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