Thank you for sending your enquiry! One of our team members will contact you shortly.
Thank you for sending your booking! One of our team members will contact you shortly.
Course Outline
Introduction to CRS and Global Tax Transparency
- Origins and objectives of the CRS and the Automatic Exchange of Information (AEOI).
- Identification of reporting entities: Reporting Financial Institutions and the scope of reportable accounts.
- The relationship between CRS and FATCA, highlighting overlapping and distinct requirements.
Legal & Regulatory Framework
- Jurisdictional implementation models and legal instruments, including the Multilateral Competent Authority Agreement (MCAA) and domestic legislation.
- Recent consolidated texts and amendments influencing due diligence scopes.
- Compliance obligations, timelines, and penalties for non-compliance.
Due Diligence Fundamentals: Identifying Tax Residency
- Essential documentation: self-certifications and reliable documentary evidence.
- Indicia search procedures applicable to new and pre-existing accounts.
- Adopting a wider due diligence approach and leveraging AML/KYC information to ascertain tax residence.
Operationalizing CRS: Onboarding, Data Capture, and Systems
- Integrating CRS checks into client onboarding and periodic review workflows.
- Required data elements for reporting, along with practical strategies for data quality and retention.
- Evaluating the use of automation and vendor tools versus manual processes, with specific considerations for service providers.
FATCA-like Requirements and Comparative Best Practices
- Key commonalities with FATCA, including classification, reporting mechanics, and the treatment of entities and beneficiaries.
- Differentiating factors to plan for, such as scope, bilateral versus multilateral implementation, and jurisdictional variance.
- Practical mapping exercises: translating FATCA controls into CRS-compliant processes.
Reporting, Exchange Mechanisms, and Audit Readiness
- Formats and transmission channels for CRS reports, alongside jurisdictional submission requirements.
- Preparing for audits and regulator reviews: documentation, traceability, and evidence of due diligence.
- Sample reporting workflows and reconciliation checks.
Risk Management, Governance, and Internal Controls
- Designing governance frameworks, policies, and segregation of duties for CRS compliance.
- Training, quality assurance, and exception handling for complex or entity accounts.
- Remediation pathways and multi-jurisdiction coordination for legacy accounts.
Practical Labs and Case Studies
- Lab: Review and validate a set of sample account files and self-certifications to determine reportability.
- Lab: Configure a simple data-extraction and reporting checklist to produce a mock CRS XML extract.
- Case study: Managing complex entity structures, trusts, and controlling persons under CRS rules.
Summary and Next Steps
Requirements
- A foundational understanding of financial services or compliance functions.
- Familiarity with basic tax principles and customer onboarding procedures.
- Experience with AML/KYC processes is beneficial but not mandatory.
Target Audience
- Compliance officers and legal teams.
- Staff involved in onboarding, KYC, and client due diligence.
- Tax reporting and operations teams within financial institutions.
14 Hours
Testimonials (3)
Good communication, open for discussion, kept it interesting and engaging
Ahmet Keyman - Keytrade AG
Course - Management Accounting and Finance for Non-Finance Professionals
Experience of the trainer and his way of conveying the content
Roggli Marc - Bechtle Schweiz AG
Course - FinOps
Experience and provide necessary information to the topics
