Our Global information exchange Practice

FATCA (Foreign Account Tax Compliance Act) & CRS (OECD Common Reporting Standards)

  • By collaborating with Deloitte globally, Deloitte Israel has build a FATCA & CRS practice comprised of Audit, QI and Tax experts in order to assist Israeli financial institutions to comply with the Foreign Account Tax Compliance Act and the OECD Common Reporting Standards.
  • We assist our clients in conducting initially an impact analysis followed by a full compliance project.
  • The FATCA and CRS practice at Deloitte Brightman Almagor Zohar is part of the Global Tax and Legal Executive team (“GTLE”), we are developing a FATCA Global Delivery Center (“GDC”). The GDC will be staffed in large part by U.S. (“USI”) tax professionals who will specialize in U.S. FATCA, and over time U.K. FATCA and OECD CRS reporting as well. The GDC will leverage standard processes, technology and tools to support client service teams in all U.S. regions, and the Member Firms across the Network whether they are providing services to multi-national companies operating in several countries or companies operating in a single country. The centralized talent and resources of the GDC will enable GLTPs and their client service teams to take a globally coordinated and consistent approach to providing FATCA and CRS reporting services to their clients.
  • Our global approach allows us to customize our methodology to each group and bring critical knowledge of the 54 DTTL independent member firms worldwide. We are leveraging this approach to assist various global banking, securities, insurance, and asset management associations prepare responses for the regulations.
  • Our global team can complement the client’s project team with specialists, project managers, business analysts, communications specialists, and testing managers who can consult on matters that arise. Our project advisors and subject matter experts will supplement the client’s project team with tax, operations, technology, testing, and implementation insight and experience.
  • Our need to deliver a consistent global client experience continues to increase. This is particularly evident when addressing the impact of U.S. FATCA and similar pending legislation in other countries such as U.K. FATCA and OECD Common Reporting Standards (“CRS”) on our clients. These mandates for transparency and reporting of account holder information create increased risk, complexity and responsibilities for our clients. We provide an integrated approach to address our clients information reporting obligations on a global basis.