As of 2014 the financial industry was confronted with new regulations relating to the automatic exchange of tax related information on basis of the Common Reporting Standard (CRS). The CRS regulations where initiated by the OECD and the G20. The prescribed CRS compliance processes are complex. The CRS Basic Course will help you to achieve a clear understanding of CRS obligations and the prescribed reporting procedures to avoid adverse consequences including penalties in certain CRS Participating Jurisdictions.

Practical information

Program: 3 days 2.5 hours live online course
Regular price: USD 350
Lecturer: Corporate & Tax Lawyer and AEOI specialist
Group discount: 10% for each 3 participants subscribing together
Certificate: Participation certificate upon completion of course

Main Topics covered during the Course

  • Background, reasons and history of CRS
  • Legal basis and sources of CRS
  • Main difference between CRS and FATCA
  • Time line for CRS obligations
  • Identification, documentation, due diligence and reporting requirements
  • Classification methods of (Non) Financial institutions (including FFI, Active NFFE and Passive NFFE)
  • Information to be reported to the local tax authorities which is forwarded to the concerning CRS partner jurisdiction
  • Completing of CRS Self Certification forms

What will you learn?

By the end of the program you will have solid understanding of:

  • CRS obligations and how to comply with them
  • CRS due diligence procedures and how they should be performed
  • Which financial information should be reported and which is exempt
  • Reporting timelines
  • Classification of entities to determine CRS reporting obligations
  • CRS Self Certification Forms

Who should attend?

  • Financial officers
  • Legal/accounting relationship managers
  • Trust officers
  • Compliance officers of fiduciary trust service providers
  • Compliance officers of banks
  • Compliance officers of insurance companies
  • Legal counsels
  • Attorneys at law
  • Revenue officers
  • Risk Management Professionals
  • Accountants and tax advisors
  • Bank employees