Ref
6191029

Formation - The Common Reporting Standard (CRS)

Understanding the obligations and the International, European and Luxembourg legal framework.

Perfectionnement
0,57 jour - 4 heures
Objectifs
Understanding the framework and objective of this regulation.
Identifying the principal interactions with FATCA.
Studying the mechanisms and impacts.
Raising awareness on the principal risks and the way to manage them.

Compétences acquises
At the end of the training, you will be able to explain the principles of the CRS rules, the similarities and differences with FATCA and to understand the impacts and tasks depending on the fields of activity and professions of your clients.
Public
Compliance Officers, tax experts in charge of operational tax related questions, FATCA and CRS responsible persons, internal auditors in financial institutions and company administrators/directors.
Employees in a bank, insurance, investment fund (UCITS/Private Equity) or domiciliation company.

Programme
The Common Reporting Standard (CRS)

Context and main principles

• Source: DAC2/OECD CRS.

• Legal framework and the International and Luxembourg regulations.

• Main principles and the timeline.

Question of the classification of entities

• Determine who does what.

• Identify the similarities and differences with FATCA and the possibility or not of a reclassification to be carried out.

• Consequences depending on the status.

Specific obligations of financial institutions (due diligence and reporting)

• Rules for the review and identification of clients.
• Obligations over time: documentation, monitoring and management of changes in circumstances.
• Reporting: customer information and data protection issues.
• Controls and penalties in case of non-compliance.

Anticipate evolutions

• Certainties and outstanding points.
• Planned developments.
• Links with other legislation.