Deloitte's Common Reporting Standard (CRS) Seminar
The Common Reporting Standard (“CRS”) is the new, single global standard which obliges Financial Institutions (including Investment Entities) to report particulars relating to their customers to the tax authorities in their country of tax residence.
Under CRS, tax authorities of other jurisdictions signed up to CRS will receive this information for persons tax resident in their jurisdiction.
With CRS being implemented on 1 January 2016, we hosted a breakfast seminar to discuss the key requirements and the steps that Financial Institutions need to take in order to prepare for its introduction. This also provided you with a forum to share thoughts and discuss specific concerns affecting individual business sectors.
- Key elements of CRS;
- What you should be considering in the run up to its implementation;
- How to efficiently bridge the compliance gap between FATCA and CRS; and
- Revenue Insights on the implementation of CRS in in Ireland.
- Representative from Revenue Commissioners’ Automatic Exchange of Information Division
- Representatives from Deloitte Risk Advisory, Financial Services Tax and Financial Services Consulting teams
The Common Reporting Standard
CRS raises a number of questions such as:
- What is the Common Reporting Standard?
- What does CRS oblige me to do?
- How can I ensure I am CRS compliant?
- Is CRS not just the same thing as FATCA?
- What can Deloitte do to help?
How can we help
Further information on CRS including the latest CRS FAQ’s issued by the OECD can be accessed on the OECD AEOI portal.
If you are not aware of your CRS obligations or would like further information on CRS please contact a member of the Deloitte CRS team.