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CRS: Common Reporting Standard a new global standard for exchange of information
 
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In 2014, the US government pledged all banks around the world to pass the identity of Americans living abroad among their customers to the US tax authorities. With the CRS (Common Reporting Standard) or AEOI (Automatic Exchange of Information), other countries introduced a standard by January 2016 in order to avoid tax evasion and create tax transparency. https://blog.hypovereinsbank.de/common-reporting-standard-deutsch/
How does the automatic exchange of information work?
 
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The automatic exchange of information (AEOI) is the new international standard in tax matters. From 2017/2018, tax relevant data from bank clients will be automatically exchanged between tax authorities of participating countries. This short film aims to answer the most important questions about the AEOI: How does it work, which data will be exchanged, what are the consequences for the clients? You can find more information about AEOI on our website: http://www.swissbanking.org/aeoi
Views: 19309 SwissBanking
Understanding AEOI
 
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This video summarizes the key elements of the OECD’s Common Reporting Standards (CRS) deadline and how global financial institutions need to understand AEOI to manage their customer compliance and reporting obligations.
Views: 2763 KPMG Ireland
7 Bonanza Tax Loopholes to legally avoid the Automatic Exchange of Information (OECD)
 
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This video shows the loopholes to circumvent the Automatic Exchange of Information and Common Reporting Standard. You learn how to keep tax neutral money tax neutral. You see how to avoid the reporting of bank account information to the country of residence legally. ________________________________________­______________________ Caputo & Partners AG - Swiss Banking Lawyers ⇨ No hourly fees, flat & success-fee ⇨ Multilingual service ⇨ 24/7 support ⇨ First consultation free ⇨ 20 years of experience ________________________________________­______________________ CONTACT DETAILS ☎ 0041 44 212 44 04 (SWITZERLAND) ► Website: http://www.swiss-banking-lawyers.com/ ► Facebook: https://goo.gl/TB6CKI ► Google+: https://goo.gl/dhRxa0 ► LinkdIn: https://goo.gl/KIjzNN ► Twitter: https://goo.gl/qg9iCK
Views: 3177 Caputo & Partners AG
International exchange of tax information (33c3)
 
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https://media.ccc.de/v/33c3-7880-international_exchange_of_tax_information The Common Reporting Standard is a multinational agreement signed by more than 80 nations, including all EU member states. The signatories promised to exchange bank account information on foreigners. ['taxman']
Views: 733 media.ccc.de
What are the implications of FATCA and CRS on an individual investor?
 
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Mr. Gopal Menon, COO & CFO, Axis Mutual Fund explains what is FATCA & CRS and its implications to an individual investor
Views: 3988 Axis Mutual Fund
Exchange of tax information [Plenary Podcast]
 
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Lack of information-sharing between tax authorities prevents them from correctly assessing the actual tax situation when several countries are involved. The need to remedy this is now widely accepted and some progress are realised, though they are only steps in the right direction. See the paper publication behind this podcast: http://www.europarl.europa.eu/thinktank/en/document.html?reference=EPRS_ATA(2015)569024 Subscribe to EPRS Plenary Podcasts: http://www.europarl.europa.eu/rss/en/audio-podcasts.html
Common Reporting Standard in Hong Kong (Digital nomads and offshore tax exemption)
 
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Common Reporting Standard in Hong Kong (Digital nomads and offshore tax exemption) This video is about the impact of Common Reporting Standard, CRS, from OECD on Business in Hong Kong. More specifically, Digital Nomads and people claiming offshore tax exemption.
Views: 2301 Laurent Timmermans
Global Forum on Transparency and Exchange of Information for Tax Purposes
 
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The Global Forum is the multilateral framework within which work on transparency and exchange of information for tax purposes has been carried out by both OECD and non-OECD economies since 2000. It is the key international body working on the implementation of the international standards on tax transparency. The Global Forum ensures that these high standards of transparency and exchange of information for tax purposes are in place around the world through its monitoring and peer review activities. In order to ensure a worldwide participation in the benefits of increased tax transparency and international co-operation and in order to ensure that developing countries benefit from the new tax transparent environment, the Global Forum has a technical assistance programme for its members. For more information, visit http://www.oecd.org/tax/transparency/
Views: 2750 OECD Tax
AEOI: Automatic Exchange of Information on Financial Accounts.
 
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My last video about Automatic Exchange of Information on Financial Accounts. This is the first ever agreement to exchange this type of information automatically between the jurisdictions that signed the agreement under a single global standard on an annual basis. 54 jurisdictions committed to start the information exchange by 2017, 47 jurisdictions more by 2018. If you are operating a business outside of your country of citizenship or residency you should be aware of the new reporting standards! --------------------------------------------------- Contact Astorts Group: 👉🏻 www.astortsconsulting.com 👉🏻 [email protected] 📞 +442037402520 📞 +85235212835 📞 +74991123783 --------------------------------------------------- #bank #exchange #aeoi #fatca #money #investment #forex #broker #wealthmanagement #familyoffice #bankaccount #like4like #london #moscow #hongkong #astortsgroup #offshore
Views: 1696 alepietrocola
OECD Tax Talks #10 - Centre for Tax Policy and Administration
 
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With a number of important recent and upcoming developments in the OECD's international tax work, the OECD's Centre for Tax Policy and Administration (CTPA) gave the latest tax update. Topics included: - Tax challenges of digitalisation - BEPS Implementation (Minimum standards; Transfer pricing) - Tax Transparency (Automatic exchange of information; Residence/Citizenship by investment) - Next steps View the presentation: https://www.slideshare.net/OECDtax/oecd-tax-talks-10-16-october-2018 Vist our website: http://oe.cd/taxtalks
Views: 2092 OECD Tax
Tax transparency: Do new global standard really provide a level playing field?
 
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A large majority of states are today committed to the new global standards for more transparency in the tax area, for both individuals and company. In light of recent revelations like the Panama Papers and LuxLeaks, their effective implementation has become even more paramount. The European Union has high ambitions in the fight against tax avoidance. Switzerland is strongly committed to the new global standards. The Swiss-EU agreement on the automatic exchange of information in tax matters was one of the first of its kind. Both are preparing legislation to force multinational companies to exchange tax information with authorities and the EU wants to go even further.
Views: 127 EURACTIV
AEOI Automatic Exchange of Information Video 2018 E
 
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AEOI Automatic Exchange of Information and penalty-free voluntary disclosure Video 2018 E
Protect your assets (CRS - OECD - AIA - AEOI)
 
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Globalization is a word who everybody knows. As a result of Globalization international laws getting implemented who officially care about topics like anty money laundering, tax fraud, and terrorism financing. However, the truth behind is the implementing of a total control system who makes everybody's financial movements simply visible. The newest invention of the global control system is called „Common Reporting Standards“ (CRS). 100 countries worldwide signed this agreement. +++ Whats CRS ? +++ Simply explained, everybody who owns a bank account outside his country will be automatically reported to his home countries tax authorities. This means no matter if you own a private or corporate account outside your country your foreign bank will automatically report all your bank transactions, turnovers, incomes etc. to your home country. The bank secrecy as we know is officially history. CRS is a resident based reporting law. The bank secrecy was implemented to keep anybody's privacy and furthermore protect assets from governments especially because governments are often unpredictable. Situations like war, financial crises, currency change, fall of a union like the USSR etc. are common and can happen at any time. Brexit, Syria Crisis, Ukraine war, Refugee crisis, Terror etc are floating our news. The world countries are in the highest debts ever reported. No wonder a law like CRS is on is the way and starts 2017/18 To keep your assets protected and keep your privacy the only legal way is to change your resident to the countries like Dubai who offer a 0% tax rate plus a strong banking system and furthermore do not share any banking data of their residents. We assist in getting your resident status in the UAE and protect your assets also in the future. Our world's financial system is not made to be forever. Protect your assets from crises, wars, and governments who are looking for a total control system. Contact us: ➤➤➤ http://royalfinanceyard.com/ ++++++++++ CONNECT WITH US ++++++++++ Subscribe now ➤➤➤ http://bit.ly/2koboV3 Facebook ➤➤➤ http://bit.ly/2mgYKfg Twitter ➤➤➤ http://bit.ly/2lYXydO Xing ➤➤➤ http://bit.ly/2lBWfjT ++++++++++++++++++++++++++++++++++++
Views: 13085 Royal Finance Yard
OECD’s Common Reporting Standard: Are You Ready?
 
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OECD’s Common Reporting Standard: Are You Ready? The OECD has released detailed commentary on the Common Reporting Standard (CRS) on 21 July 2014. The CRS will establish a new global standard for the automatic exchange of financial account information between governments. More than 90 jurisdictions have already publicly committed to the implementation of CRS, with 58 jurisdictions adopting the "early adopter" status and 51 jurisdictions signing a multilateral agreement to implement the CRS on 29 October 2014. An ambitious timeline will need to be adhered to – early adopters have pledged to work towards launching their first exchange of information by September 2017, while others are expected to follow in 2018. Learn about this new standard and what you should prepare going forward. (Live presentation was aired on 27 Jan 2015) www.deloitte.com/ap/dbriefs
Views: 8167 Deloitte Dbriefs AP
AEOI: KPMG’s solutions make global information reporting manageable
 
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Global AEOI (Automatic Exchange of Information) reporting doesn't always require heavy software implementation. Available as a managed service or software installation. Aiming to reduce tax evasion through transparency, the Common Reporting Standard (CRS) builds on the US Foreign Account Tax Compliance Act (FATCA), collectively AEOI, to take another step towards a globally coordinated approach to the automatic exchange of financial account information of non-resident customers and investors.
Views: 201 KPMG Romania
What is FATCA-Foreign Account Tax Compliance Act-CRS-Common Reporting Standard-Explained-In Hindi
 
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What is FATCA and CRS this is what I am going to explain you in In Hindi. What is FATCA? The Foreign Account Tax Compliance Act (FATCA) is a piece of US tax regulation that aims to combat tax evasion by US persons opening accounts offshore. FATCA aims to detect and discourage offshore tax evasion by U.S. citizens or U.S. residents by requiring financial institutions to identify and report accounts held by U.S. persons. Where account holders refuse to be identified, financial institutions are required to report them based on information available. The main aim of FATCA is to restrict US persons to create wealth outside USA like in Mutual Funds, NPS, Fixed Deposits etc. It not only is for US persons but also binds business entities. Government of India has bilateral agreement with Government of United states to implement FATCA. What is CRS? Alike FATCA, CRS stands for Common Reporting Standard(CRS) is a globally accepted standard to automatic exchange of financial information among nations, set forth by OECD(organization for economic cooperation and development, which is in close cooperation among G-20 nations , EU(European union) and other countries. You can check the status if your FATCA\CRS for is submitted or not online and even you can submit these forms online hassle-free, You just need your PAN Number and mobile number linked to your PAN Number so that you can receive an OTP code and can easily submit the form online. Submit FATCA\CRS Online CAMS: https://www.camsonline.com/FATCA/COL_FATCAOnlineIndividualForm.aspx?amc=ALL KARVY: https://www.karvymfs.com/karvy/fatca-kyc.aspx SUNDARAM BNP PARIBAS: https://www.sundarambnpparibasfs.in/web/service/fatca/ Offline Forms NSDL: https://www.npscra.nsdl.co.in/FATCA-Self-Declaration.php ICICI: https://www.icicibank.com/managed-assets/docs/form-center/fatca-individual.pdf Kotak Mahindra Bank: http://www.kotak.com/bank/common/kotak_offer_files/FATCA_annexure1.pdf This declaration has recently become mandatory for NPS account holders and even nowadays bank account holders while login to net-banking are getting online form automatically to accept and submit it. I received the FATCA\CRS declaration online while logging to my Kotak net-banking account. Please watch the complete video for proper understanding. ----------------------------------------------------------------------------------------------------------- My ebook Real Ways to Make Money Online - E-book (Lifetime Free updates) (Rs.149) : https://goo.gl/oB95Pt Donate us to Keep Motivated paypal.me/techbulu Products I use Samson Go Mic: https://amzn.to/2LoefhP Pop filter: https://amzn.to/2uyZRJR Microsoft Office 365: https://amzn.to/2JBVP8y My phone: https://amzn.to/2uMuwCV Desktop : https://amzn.to/2JCe5yF Digital Pen: https://amzn.to/2LpvCin Share, Support, Subscribe!!! Youtube: https://www.youtube.com/c/TECHBULU Twitter: https://twitter.com/techbulu Facebook: https://www.facebook.com/techbulu/ Pinterest: https://www.pinterest.com/techbulu/ Google Plus: https://goo.gl/sZhdc0 Linkedin: https://www.linkedin.com/in/tech-bulu-15834b140/ BlogSite: http://www.techbulu.com/ About Us: TECHBULU is a YouTube Channel, where you will find technical and education videos. -----------------------------------------------------------------------------------------------------------
Views: 12582 TECH BULU
OECD Common Reporting Standard – What Information on you will be reported
 
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The most important changes in international taxation within the last 40 years are taking place. The banking secrecy for tax purposes has disappeared. OECD Common Reporting Standard, the so called CRS-rules have destroyed the reason to exist for classic offshore companies. This video shows you what is the information concerning you that will be reported exactly. ________________________________________­______________________ Caputo & Partners AG - Swiss Banking Lawyers ⇨ No hourly fees, flat & success-fee ⇨ Multilingual service ⇨ 24/7 support ⇨ First consultation free ⇨ 20 years of experience ________________________________________­______________________ CONTACT DETAILS ☎ 0041 44 212 44 04 (SWITZERLAND) ► Website: http://www.swiss-banking-lawyers.com/ ► Facebook: https://goo.gl/TB6CKI ► Google+: https://goo.gl/dhRxa0 ► LinkdIn: https://goo.gl/KIjzNN ► Twitter: https://goo.gl/qg9iCK
Views: 2506 Caputo & Partners AG
Focus on Funds: Plans for a New Global Tax Compliance System
 
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(Transcript is below) The February 21, 2014, issue of Focus on Funds explains the new framework from the Organisation for Economic Co-operation and Development (OECD) for automatic exchange of information (AEOI), and clarifies what it means for funds and their investors. ICI's statement on the OECD's announcement is available here: http://www.iciglobal.org/iciglobal/news/news/ci.14_news_tax_framework.global ___________________________ VIDEO TRANSCRIPT Stephanie Ortbals-Tibbs, Director, ICI Media Relations: Welcome to Focus on Funds, the Investment Company Institute's weekly roundup of industry news, ICI activities, and research findings. The framework for a new global tax compliance system is now on the table. The Organisation for Economic Co-operation and Development (OECD) has announced a framework for collecting customer information from financial institutions, and exchanging that information between governments globally. It's called the automatic exchange of information, or AEOI. Here's what it means for funds and their investors. Keith Lawson, ICI/ICI Global Senior Counsel, Tax Law: The OECD's announced standard for automatic exchange of information generally takes into account the many concerns of funds and their investors. Most importantly, compliance with the standard will be relatively straightforward because it aligns with the existing U.S. Foreign Account Tax Compliance Act, also known as FATCA. The next step is to ensure implementation is sensible and cost-effective. There are four keys to effective implementation of the automatic exchange of information. The first is we need detailed guidance. The OECD right now, in conjunction with business, is working on guidance known as commentary. This commentary should be out hopefully by July. Second, it's important that all of the countries adopt these reporting standards consistently. If there are inconsistencies in adoption, we lose many of the benefits of standardization. Third, countries may well need to modify their domestic laws, particularly data privacy laws, to ensure funds can collect, retain, and report the information about their customers. And finally, sufficient time will be needed so that the funds can be ready when they are required to provide this information to their governments, which will exchange it with other governments. Unless these four steps are taken, funds and their investors will face unnecessarily high costs and reporting burdens. Stephanie Ortbals-Tibbs: Lawson adds that ICI and ICI Global worked closely with the OECD on formation of the initial framework, and will remain very engaged in the implementation process, as a voice for funds and investors. That's this week in funds. See you next week.
Views: 123 ICI Video
Last News on the Automatic Exchange of Information regarding Switzerland
 
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#RERCT ► site sobre RERCT: http://www.rerct.net.br ☎ 0055 11 434 96 170 (BRAZIL) ☎ 0041 44 212 44 04 (SWITZERLAND) The Government of Switzerland takes the Automatic Exchange of Information very serious. Switzerland is working on a new law involving all sort of countries with the Automatic Exchange of information. Switzerland will exchange non-resident client information with the following countries: China, Indonesia, Russia, Saudi Arabia, Liechtenstein, Colombia, Malaysia, the United Arab Emirates, Montserrat, Aruba, Curaçao, Belize, Costa Rica, Antigua and Barbuda, Grenada, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, the Cook Islands and the Marshall Islands. Some of the new countries have a very bad ranking according the Corruption Perception Index. Transparency International measures the Perception of Corruption with all countries in the world. Swiss bankers fear that very confidential and sensitive client information can land in the hands of very corrupt tax officers operating in very corrupt countries. Is this the goal of the Automatic Exchange of Information to deliver very confidential information to corrupt officials working in very corrupt countries? Have such countries the IT system in place to comply with the principle of reciprocity with Switzerland delivering the equivalent information? Leia mais aqui: http://www.rerct.net.br/receita-federal-brasil-os-riscos ______________________________________________________________ Caputo & Partners AG ⇨ No hourly fees, flat & success-fee ⇨ Multilingual service ⇨ 24/7 support ⇨ First consultation free ⇨ 20 years of experience ______________________________________________________________ CONTACT DETAILS ☎ 0055 11 434 96 170 (BRAZIL) ☎ 0041 44 212 44 04 (SWITZERLAND) ► Website: https://goo.gl/9NgH5f ► Facebook: https://goo.gl/TB6CKI
Automatic exchange of information, a mechanism to combat tax crimes
 
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AIRING DATE: June 10, 2015 For more videos: http://www.untvweb.com/video/
Common Reporting Standard – What our Customers need to know?
 
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WHAT IS CRS? In order to help fight against tax evasion, governments around the globe are introducing new information and reporting requirements for financial institutions. This is known as the Common Reporting Standard (“CRS”). Participation is obligatory, and Manulife is required by the CRS to (1) identify where our customers are tax resident and (2) report on certain accounts and policies held directly or indirectly by tax residents in any of the participating CRS countries. While similar in nature, the CRS is in addition to the requirements under the United States Foreign Account Tax Compliance Act (“FATCA”). CRS requires Manulife to send the reportable information to domestic tax authorities. These authorities in turn will exchange that information automatically with jurisdictions of residence of account holders on an annual basis. WHO IS AFFECTED? Given the broad application of the CRS, all of Manulife’s customers may be affected. Manulife is required by the CRS to (1) identify where our customers are tax resident and (2) report on certain accounts and policies held directly or indirectly by tax residents in any of the participating CRS countries. Manulife will require CRS self-certification from new customers, where applicable from 1 January 2017 onwards. We will contact existing customers at a later stage, if required. WHAT DO I NEED TO DO? Manulife will ask you to complete a self-declaration form. We may need to request further information or documentation from you to confirm your tax status. Customers with more than one relationship with different Manulife entities may receive multiple requests for confirmation of their tax status. WHERE CAN I FIND FURTHER INFORMATION? For general questions on CRS, please do not hesitate to contact your Manulife representative, or call our hotline at (+65) 6833 8188 Manulife does not provide tax advice. For further information on your tax residency, please refer to the rules governing tax residence that have been published by your national tax authority or contact your tax advisor. You can also visit the OECD Automatic Exchange of Information portal.
Views: 1510 Manulife Singapore
US The World’s Favorite New Tax Haven - Bloomberg Business
 
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For decades, the US has been sanctimonious in its condemnation of Swiss banks, Caymen Island, Bahamas etc., for helping the rich with tax avoidance. On Jan 1, 2016, the OECD Global Standard on Automatic Exchange of Financial Information (AEOI) in tax matters comes into effect. More than 100 countries signed up to the AEOI…..except the US. “That ‘giant sucking sound’ you hear? It is the sound of money rushing to the USA.” The U.S. “is effectively the biggest tax haven in the world”.
Views: 1079 Jeffrey Chew
Automatic exchange of information: Preparing now for reporting in 2018
 
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Many financial institutions in the Asia Pacific region will need to report under the common reporting standard for the first time in 2018. And FATCA reports may not yet have been required to be filed in some jurisdictions. What do financial institutions need to do to prepare for reporting in 2018? Deloitte specialists from Asia Pacific and our global information reporting team will share insights from their experience with assisting clients with FATCA and CRS reporting over the last three years, including CRS reporting for early adopting countries in other regions. Learn why financial institutions in Asia Pacific should start preparing now for reporting in 2018. (Live presentation was aired on 14 Dec 2017) http://www.deloitte.com/ap/dbriefs
Views: 176 Deloitte Dbriefs AP
Crackdown on tax evasion
 
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Bank secrecy for tax purposes is coming to an end as a growing number of countries commit to automatic exchange of information. Soon there will be nowhere left for tax cheats to hide. For more information, please visit: http://www.oecd.org/tax/exchange-of-tax-information/
Views: 54414 OECD
Common Reporting Standard (English)
 
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The Dutch government is cooperating with other countries to prevent tax evasion. The Common Reporting Standard (CRS) is a system for automatic exchange of information on financial accounts between CRS participating countries. On behalf of CRS, Dutch law requires all financial institutions, such as Rabobank, to determine foreign tax residence of their clients
Views: 4332 Rabobank
FATCA and CRS in Asia Pacific: Developments and Next Steps
 
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The automatic exchange of information is rapidly becoming the global standard. Many countries have committed to implementing the OECD's Common Reporting Standard (CRS) beginning in 2017 and with others following in 2018. At the same time, the U.S. Foreign Account Tax Compliance Act (FATCA) continues to pose challenges. CRS builds upon FATCA, and is intended to provide a global standard for the automatic exchange of financial account information between governments, but there are differences between FATCA and CRS and between jurisdictions. Learn about the current status of these global standards in Asia Pacific and how you should prepare going forward. (Live presentation was aired on 13 Aug 2015) www.deloitte.com/ap/dbriefs
Views: 1461 Deloitte Dbriefs AP
The ABCs of tax transparency
 
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Automatic exchange of tax information is becoming the new standard Beneficial ownership transparency is on its way Country-by-country reporting by multinationals now exists and is on the road towards public availability... Explained in greater detail here https://www.taxjustice.net/2017/10/19/tax-justice-new-washington-consensus/
Views: 154 Tax Justice Network
An examination of Automatic Exchange of Information on the new tax regime in Nigeria
 
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Yomi Olugbenro dissects Automatic Exchange of Information at the Federal Ministry of Finance's training for professionals participating in Voluntary Assets Income Declaration Scheme (VAIDS).
Views: 61 Deloitte Nigeria
Offshore Banking Transparency and Exchange of Information for Tax Purposes
 
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Global Forum on Transparency and Exchange of Information for Tax Purposes: How do countries rate The Global Forum, set up in 2000 to agree global tax standards, now has 119 member countries and jurisdictions. Since 2009, when the G20 called for effective implementation of the internationally agreed standard of information exchange, the Forum has published 100 peer review reports. Most countries have completed the first phase of the reviews which looks at legal frameworks. Fourteen are not moving to the second phase due to deficiencies in their legal frameworks. After it completes a set of Phase 2 reviews, looking at effectiveness of the information exchange practices, the Global Forum will start rating countries' implementation of the standards on the basis of a four-tier classification system: "compliant," "largely compliant," "partially compliant" and "non-compliant". The results of the ratings exercise for the first set of reviews will be completed by year end, with the allocation of overall ratings to approximately 50 tax jurisdictions. Source: http://tinyurl.com/bmwj97b
Views: 310 Invest Offshore
India to Follow OECD Issues New Standard to Combat Blackmoney
 
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The G20 Invited the OECD to Develop a Global Standard on Automatic Exchange of Information in 2013 and Remains the Driving Force Behind the Move Toward Greater Tax Transparency Worldwide. Visit our Website : http://V6news.tv Twitter : https://twitter.com/#!/V6News Facebook : http://www.facebook.com/V6News.tv Google+ : https://plus.google.com/109903438943940210337 V6 News Channel
Views: 80 V6 News Telugu
A.E.O.I (automatic exchange of information)
 
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Echange automatique d'informations des banques. Ce qu'il faut savoir. Quelles solutions ?
Views: 689 TERRE DE REVES
Pasquale Pistone - Cross-Border Exchange of Tax Information
 
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Executive training seminars of the Academy of Global Governance on Tax Heavens, 8-10 June 2011, European University Institute, Florence, Italy.
Views: 1002 globalgovernanceprog
Policy Webinar: Common Reporting Standard update
 
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The ATO Common Reporting Standard is the single global standard for the annual collection, reporting and exchange of financial account information on foreign tax residents. They commenced on 1 July 2017 and all charities, including trusts and foundations, are required to complete self-certification. For grant makers this means an additional due diligence step prior to granting to beneficiaries. The new Common Reporting Standard is an extension to The Foreign Account Tax Compliance Act requirements. Previously, registered charities, trusts and foundations, were exempt from FACTA requirements, however now this is no longer the case. This webinar is an update for grant making members, philanthropists and trusted advisors who are not aware of, and non-compliant with, these recent CRS changes, which include self-assessments to be completed by 31 July 2018, and include the period back to 31 December 2017. Contact Policy and Research Manager, Sarah Wickham → https://goo.gl/zCbn4G
Views: 70 PhilanthropyAus
Common Reporting Standard - Are You Ready?
 
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WHAT IS CRS? In order to help fight against tax evasion, governments around the globe are introducing new information and reporting requirements for financial institutions. This is known as the Common Reporting Standard (“CRS”). Participation is obligatory, and Manulife is required by the CRS to (1) identify where our customers are tax resident and (2) report on certain accounts and policies held directly or indirectly by tax residents in any of the participating CRS countries. While similar in nature, the CRS is in addition to the requirements under the United States Foreign Account Tax Compliance Act (“FATCA”). CRS requires Manulife to send the reportable information to domestic tax authorities. These authorities in turn will exchange that information automatically with jurisdictions of residence of account holders on an annual basis. WHO IS AFFECTED? Given the broad application of the CRS, all of Manulife’s customers may be affected. Manulife is required by the CRS to (1) identify where our customers are tax resident and (2) report on certain accounts and policies held directly or indirectly by tax residents in any of the participating CRS countries. Manulife will require CRS self-certification from new customers, where applicable from 1 January 2017 onwards. We will contact existing customers at a later stage, if required. WHAT DO I NEED TO DO? Manulife will ask you to complete a self-declaration form. We may need to request further information or documentation from you to confirm your tax status. Customers with more than one relationship with different Manulife entities may receive multiple requests for confirmation of their tax status. WHERE CAN I FIND FURTHER INFORMATION? For general questions on CRS, please do not hesitate to contact your Manulife representative, or call our hotline at (+65) 6833 8188 Manulife does not provide tax advice. For further information on your tax residency, please refer to the rules governing tax residence that have been published by your national tax authority or contact your tax advisor. You can also visit the OECD Automatic Exchange of Information portal.
Views: 956 Manulife Singapore
Introduction to Common Reporting Standard Video
 
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Common Reporting Standard (CRS) is released by The Organization for Economic Cooperation and Development (OECD) and G20, it provides a guideline for participating tax jurisdiction to exchange tax resident’s financial account information regularly. CRS is a worldwide information-gathering and reporting requirement for financial institutions, aims to increase tax transparency and combats cross-border tax evasion. Please check out the video to learn CRS. For details please refer to websites of Hong Kong Inland Revenue Department and OECD.
Views: 327 AIA Hong Kong
WHAT IS INFORMATION SYSTEM | AUTOMATIC EXCHANGE OF INFORMATION
 
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I created this video with the YouTube Video Editor (http://www.youtube.com/editor)
Swiss Banking Automatic exchange of  information
 
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Views: 331 OMY GURU
OECD proposes data exchange system to crack down on tax evasion
 
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The OECD proposed Thursday a new system for cracking down on offshore tax evasion,.... in a bid to improve financial transparency worldwide. The new global standard would require countries that are party to the agreement... to collect and provide information about the investment income, financial assets and bank balances of account-holders who live outside of the country. The system is expected to be finalized during the upcoming meeting of G-20 finance ministers slated for late February in Australia. The organization plans to implement the system by the end of next year. Forty-two countries, including Britain, France and Germany, have already expressed their commitment to signing on to the plan.
Views: 316 ARIRANG NEWS
Offshore Banking and Auto Tax Info Exchange Agreements
 
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The chairman of the ABBL named reasons why he fully supports Minister Frieden's announcement that Luxembourg will apply the automatic exchange of information and thus give up the withholding tax model. During a press conference, Mr Contzen reminded the audience of journalists that since he became the chairman of the ABBL three years ago, he has been strongly advocating a tax compliant business model: the only sustainable standard for the financial centre. He is convinced that this will help Luxembourg to not be perceived as the villain by the public eye anymore. In the discussions around the automatic exchange of information, Ernst Wilhelm Contzen didn't like the fact that the large countries of the EU tried to deprive Luxembourg of the fundamental rights that are established in the Treaty of Rome. "There is the freedom of movement for persons, goods, services and capital. Luxembourg, like the United Kingdom, has decided to focus on the service industry -- Luxembourg more specifically on finance services --, which we export to the whole EU and around the world. The attitude of large EU states is the wrong approach because every citizen of the European Union has the right to open his account where he wants to and the right to choose in which country his money is managed". Source: http://www.luxembourgforfinance.lu/cat-out-bag More info: http://www.investoffshore.com
Views: 287 Invest Offshore
How to tackle CRS reporting challenges?
 
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Interview with Ronald Frey, Partner at BearingPoint Switzerland about differences between FATCA and CRS and the biggest challenges with CRS. Ronald talks about how CRS affects the way financial institutions must approach their operations and if outsourcing of CRS reporting is an option. Finally, Ronald gives an outlook on what is coming next in tax matters. For more information about BearingPoint’s tax reporting solutions FiTAX and EasyTax, please visit: www.bearingpointabs.com
Views: 2960 BearingPoint
Financial Services Tax Update: GATCA
 
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Financial Services Tax Update: GATCA - Globalization of FATCA and Multilateral Exchange of Tax Information The OECD is developing a framework for multilateral automatic exchange of tax information based on the Model 1 Intergovernmental Agreements (IGAs) for the U.S. Foreign Account Tax Compliance Act. This global Automatic Exchange of Information (AEoI) is sometimes referred to as global FATCA or "GATCA". Delivery of this framework is on an ambitious timetable, with the requirements to be finalized in early 2014 and exchange of information scheduled to commence by the end of 2015 among G20 members. Understand how your financial institution will be affected by GATCA and consider the impact of GATCA on current FATCA implementation programs. (Live presentation was aired on 19 Dec 2013) www.deloitte.com/ap/dbriefs
Views: 453 Deloitte Dbriefs AP
CRS: Your Global Network
 
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An interview with CRS member Begonia Antiguedad of Novartis
KPMG AEOI Reporting Tool
 
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Data quality is one of the biggest headaches facing Tax teams for CRS reporting. New data health check helps an organisation identify and fix data issues throughout the year. Here's a short video on KPMG's Automatic Exchange of Information (AEOI) Reporting Tool.
Views: 337 KPMGmalta

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