FATCA and CRS

FATCA significantly increases the need for not only banks and financial institutions but multinational corporations, and foreign entities receiving U.S. source income worldwide to capture, analyze and submit detailed data of customers subject to US withholding tax and tax liabilities to the US Internal Revenue Service. To comply with FATCA regulations, financial institutions will need to employ enhanced due diligence procedures to identify and report US Persons who are using non-US Financial accounts or Non-US entities to evade US taxes. Financial institutions will need to develop additional capabilities and modify existing operational processes as penalties for non-compliance severe enough to the subject of 30% withholding tax of any “withhold able payment” made to its proprietor account.

 

In addition to providing you with a good grounding in the theories that underpin this discipline, this course will also provide numerous case study examples of leading engagement techniques in practice. You will also be given the opportunity to work through many of the challenges faced by your own organization in developing and implementing an effective FATCA Strategy for a Compliant Operations and reporting.