Course Outline
Foundations of CRS and Global Tax Transparency
- The evolution and objectives of CRS and Automatic Exchange of Information (AEOI)
- Identifying reporting obligations: Reporting Financial Institutions and the scope of reportable accounts
- The relationship between CRS and FATCA, highlighting areas of overlap and divergence
Legal & Regulatory Context
- Jurisdictional implementation models and relevant legal instruments (MCAA, domestic laws)
- Impact of recent consolidated texts and amendments on due diligence and scope
- Compliance duties, critical timelines, and consequences for non-compliance
Due Diligence Essentials: Determining Tax Residency
- Essential documentation: self-certifications and reliable documentary evidence
- Indicia search protocols for both new and pre-existing accounts
- Broader due diligence approaches and leveraging AML/KYC data to establish tax residence
Operational Implementation: Onboarding, Data Capture, and Systems
- Embedding CRS checks into client onboarding and periodic review workflows
- Required data elements for reporting, along with strategies for data quality and retention
- Automation and vendor tools versus manual processes; specific considerations for service providers
FATCA-Aligned Requirements and Comparative Best Practices
- Shared elements with FATCA (classification, reporting mechanics, entity and beneficiary treatment)
- Distinctions to address (scope, bilateral vs. multilateral implementation, jurisdictional variations)
- Practical mapping exercises: adapting FATCA controls to create CRS-compliant processes
Reporting, Exchange Mechanisms, and Audit Preparedness
- CRS report formats, transmission channels, and jurisdictional submission specifics
- Preparing for audits and regulator reviews: documentation, traceability, and due diligence evidence
- Illustrative reporting workflows and reconciliation checks
Risk Management, Governance, and Internal Controls
- Building governance frameworks, policies, and segregation of duties for CRS adherence
- Training, quality assurance, and handling exceptions for complex/entity accounts
- Remediation strategies and multi-jurisdiction coordination for legacy accounts
Hands-On Labs and Case Studies
- Lab: Analyze and verify sample account files and self-certifications to determine reportability
- Lab: Set up a basic data-extraction and reporting checklist; generate a mock CRS XML extract
- Case study: Managing complex entity structures, trusts, and controlling persons under CRS rules
Recap and Future Actions
Requirements
- A foundational understanding of financial services or compliance operations
- Familiarity with basic tax principles and customer onboarding processes
- Experience with AML/KYC procedures is beneficial but not mandatory
Target Audience
- Compliance officers and legal departments
- Onboarding, KYC, and client due diligence specialists
- Tax reporting and operations 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
