FATCA / CRS Services
FATCA / CRS Services
FATCA / CRS Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standards (CRS) which have been implemented globally, we provide services our clients with the following services to assist them in their compliance.
The CRS was developed at the request of the G20 by the Organization for Economic Co-operation and Development (“OECD”) during the Global Forum in Berlin and entered into force in October 2014.
In April 2017, the UAE ratified the Unilateral Declaration, the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information, and the Convention on Mutual Administrative Assistance in Tax Matters.
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Assessment of FATCA/CRS impact on overall operations
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Entity Classification Assessment
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Design & Review of overall FATCA/CRS Compliance Program
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Registration of entity with Internal Revenue Services (IRS) to obtain Global Intermediary Identification Number (GIIN)
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Preparation of FATCA/CRS Compliance Manuals encompassing relevant guidelines and workflows to ascertain, mark and document the reportable accounts
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Assistance in reporting information to respective authorities
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Ad-hoc technical advice and guidance on FATCA/CRS matters
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Training