Course Outline
Introduction to CRS and Global Tax Transparency
- The origins and objectives of the CRS and Automatic Exchange of Information (AEOI)
- Entities required to report: Reporting Financial Institutions and the scope of reportable accounts
- The relationship between CRS and FATCA, including overlapping and distinct requirements
Legal & Regulatory Landscape
- Jurisdictional implementation models and legal instruments (MCAA, national legislation)
- Recent consolidated texts and amendments affecting due diligence and scope
- Compliance duties, deadlines, and penalties for non-adherence
Due Diligence Basics: Determining Tax Residency
- Necessary documentation: self-certifications and reliable documentary proof
- Indicia search procedures for both new and pre-existing accounts
- A broader due diligence approach leveraging AML/KYC data to ascertain tax residency
Operationalizing CRS: Onboarding, Data Collection, and Systems
- Embedding CRS checks into client onboarding and periodic review workflows
- Data elements necessary for reporting, along with strategies for data quality and retention
- Evaluating automation and vendor tools against manual processes; specific considerations for service providers
FATCA-like Obligations and Comparative Best Practices
- Key similarities with FATCA (classification, reporting mechanics, entity and beneficiary treatment)
- Differences to consider (scope, bilateral vs. multilateral approaches, jurisdictional variations)
- Practical mapping exercises: adapting FATCA controls to CRS-compliant processes
Reporting, Exchange Protocols, and Audit Preparedness
- Formats and transmission channels for CRS reports; jurisdictional submission criteria
- Preparing for audits and regulatory reviews: documentation, traceability, and evidence of due diligence
- Examples of reporting workflows and reconciliation checks
Risk Management, Governance, and Internal Controls
- Establishing governance frameworks, policies, and segregation of duties for CRS compliance
- Training, quality assurance, and exception handling for complex/entity accounts
- Remediation strategies and multi-jurisdiction coordination for legacy accounts
Practical Labs and Case Studies
- Lab: Reviewing and validating sample account files and self-certifications to determine reportability
- Lab: Configuring a basic data-extraction and reporting checklist to generate a mock CRS XML extract
- Case study: Managing complex entity structures, trusts, and controlling persons under CRS rules
Conclusion and Path Forward
Requirements
- A solid grasp of financial services or compliance functions
- Basic familiarity with tax principles and customer onboarding
- While experience with AML/KYC processes is advantageous, it is not mandatory
Target Audience
- Compliance officers and legal departments
- Staff involved in onboarding, KYC, and client due diligence
- Tax reporting and operational teams within financial institutions
Testimonials (3)
How to manage business financials
surprise mtileni - Hatima Holdings (Pty) ltd
Course - Learning Xero
Flexibility in the course delivery and the interactive approach. The trainer was open to questions, clarified doubts clearly and also considered participants suggestions during the sessions. The training was well structured and informative.
Soundarya Mohan - Mizuho Bank Europe N.V.
Course - Financial Analysis in Excel
Good communication, open for discussion, kept it interesting and engaging
