Course Outline
Introduction to CRS and Global Tax Transparency
- The evolution and intent behind CRS and the Automatic Exchange of Information (AEOI)
- Identifying who must report: Reporting Financial Institutions and the scope of reportable accounts
- The relationship between CRS and FATCA, highlighting overlapping and distinct requirements
Legal & Regulatory Landscape
- Jurisdictional implementation models and relevant legal instruments (MCAA, domestic laws)
- Impact of recent consolidated texts and amendments on due diligence and scope
- Compliance duties, deadlines, and consequences of non-adherence
Due Diligence Essentials: Determining Tax Residency
- Necessary documentation: self-certifications and reliable documentary evidence
- Indicia search protocols for both new and existing accounts
- A broader due diligence approach leveraging AML/KYC data to establish tax residence
Operationalizing CRS: Onboarding, Data Capture, and Systems
- Embedding CRS checks into client onboarding and regular review workflows
- Required data elements for reporting, along with strategies for data quality and retention
- Comparing automation and vendor tools against manual processes, including considerations for service providers
FATCA-Aligned Requirements and Comparative Best Practices
- Shared elements with FATCA (classification, reporting mechanics, treatment of entities and beneficiaries)
- Key differences to account for (scope, bilateral vs. multilateral implementation, jurisdictional variations)
- Practical mapping exercises: translating FATCA controls into CRS-compliant processes
Reporting, Exchange Mechanisms, and Audit Preparation
- CRS report formats and transmission channels; specific submission requirements by jurisdiction
- Readiness for audits and regulatory reviews: documentation, traceability, and proof of due diligence
- Illustrative reporting workflows and reconciliation checks
Risk Management, Governance, and Internal Controls
- Building 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: Analyze and verify sample account files and self-certifications to assess 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
Conclusion and Future Actions
Requirements
- Foundational knowledge of financial services or compliance operations
- Basic familiarity with tax concepts and customer onboarding procedures
- Experience with AML/KYC processes is advantageous but not mandatory
Target Audience
- Compliance officers and legal teams
- Personnel involved in onboarding, KYC, and client due diligence
- Tax reporting and operations teams within financial institutions
Testimonials (4)
How to manage business financials
surprise mtileni - Hatima Holdings (Pty) ltd
Course - Learning Xero
Good communication, open for discussion, kept it interesting and engaging
Ahmet Keyman - Keytrade AG
Course - Management Accounting and Finance for Non-Finance Professionals
Experience of the trainer and his way of conveying the content
Roggli Marc - Bechtle Schweiz AG
Course - FinOps
The trainer did not leave a single minute unexploited! He was up a storm throughout every lesson and provided much material for whatever he dealt with.
