The United Kingdom and its Crown Dependencies and Overseas Territories and others The United Kingdom and its Crown Dependencies and Overseas Territories are all early adopters of the CRS, so for clients in those jurisdictions which were affected by UK FATCA, it is important to note that this is A “TRANSITION” YEAR which does impact […]

The Common Reporting Standard (“CRS”) will impose new investor due diligence and reporting obligations on funds and other financial institutions based in “early adopter” participating jurisdictions, with effect from January 1, 2016. According to the OECD, all major financial centres have now signed up to the standard. Financial institutions should now be preparing for the commencement of CRS […]

FATCA (Foreign Account Tax Compliance Act) and the reporting requirements applicable to financial institutions under the intergovernmental agreements with the US. These apply in the UK and 70 other jurisdictions, with another 39 countries where an agreement has been reached in substance. The CRS (Common Reporting Standard) – the OECD’s global standard for the automatic exchange of […]

Jersey’s positive role in helping to drive forward and shape the international transparency landscape has been praised by a senior OECD tax expert at this year’s Jersey Finance Annual London Private Client Conference. Addressing an audience of more than 400 senior private client tax, trust and wealth management professionals at the event, held at 8 […]

Channel Island Businesses still have a lot to consider for the next stages of the Foreign Account Tax Compliance Act (FATCA) implementation, delegates heard at a recent breakfast seminar hosted by EY. The event, led by Wendy Martin, EY’s Tax Executive Director, highlighted: The recent updates made to the FATCA guidance notes and the imminent […]