Services

Global Information Exchange

Helping your business achieve compliance

There has been an increasing focus on the automatic exchange of information over the recent years and this has and will continue to have a significant impact of Financial Institutions. Our team of advisors can help interpret the regulations and deliver efficient solutions and ultimately minimise the impact on businesses.

Our team of leading tax technical advisors possess a sound working knowledge of key regulatory changes, and our experience of delivering compliance within multi-jurisdictions makes us uniquely placed to assist with bringing your businesses operations up to the required standards.

Where we are now

The US Foreign Account Tax Compliance Act (FATCA) requires non-US Financial Institutions to report on financial accounts held by U.S taxpayers or foreign entities in which US taxpayers hold a substantial ownership interest.

FATCA acted as a catalyst for similar automatic exchange requirements elsewhere around the globe, so that more than 90 jurisdictions have now committed to implement the Common Reporting Standards (CRS). This is the new global standard on the automatic exchange of information and financial institution must have procedures in place by 1 January 2016.

The regulatory timeline

CRS is being implemented on a very short timeframe and is expected to replace CDOT

Technology Solutions

New information exchange regulations introduce account identification, documentation, monitoring and annual, reporting requirements which must be met within a very short regulatory timeframe. Deloitte has developed a number of powerful new platforms for data collection and analysis that provides FIs the tools they need or efficient compliance. Our innovative solutions provide a number of benefits for businesses:

  • Storing multiple layers of data in accessible formats
  • Limiting the impact of customers by reducing documentation requests
  • Integrating with existing AML/KYC processes
  • Monitoring for changes in circumstances
  • Producing outputs that integrate with reporting solutions

Due Diligence and Compliance

Deloitte offers a number of managed service solutions to aid with the more practical elements of achieving full operational compliance. Our advanced technology makes us a market leader in the field of remediation and our centre of excellence ensure a speedy turnaround of all reporting requirements.

Alongside our managed services we also offer training and employee awareness programs to help employees at organisations become self-sufficient as compliance moves towards business as usual.

Advisory

Our team of subject matter experts have extensive experience of supporting Financial Institutions worldwide with their information exchange obligations. Our global Deloitte network provides us with specialist knowledge from individual jurisdictions at a local level and this ensures that we are able to provide our clients with the most up to date advice and guidance.

EU Reclaims

While direct taxation is not directly governed by the European Union, Member States must nevertheless set their tax laws in accordance with the Treaties, including the provisions concerning free movement of capital which has been extended to third country nationals.

Our team combines leading technical expertise and extensive experience assisting global portfolio investors in claiming repayments of any withholding taxes charged on EU-sourced income not already recoverable under double tax treaties or via domestic relief.

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Key contacts

Chris Tragheim

Chris Tragheim

Partner

Chris is a Partner in Tax Management Consultancy, specialising in the Global Information Exchange across the Financial Services industry. He leads a team of UK based specialists, with a global client ... More

Owen Gibbs

Owen Gibbs

Director

Owen is a director within the Global Information Exchange team and specialises in advisory services in relation to FATCA, CRS and UK CDOT. He currently leads the UK arm of our outsourced reporting ser... More

Quentin Johnson

Quentin Johnson

Director

Quentin is a Director within the US Business Tax team and is a subject matter expert in US Witholding, as well as US tax advisory and compliance matters to multinationals, with a focus on European fun... More

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