Course Outline
Foundations of CRS and Global Tax Transparency
- Origins and objectives of CRS and Automatic Exchange of Information (AEOI)
- Reporting obligations: Financial Institutions and the scope of reportable accounts
- The relationship between CRS and FATCA, highlighting overlaps and distinctions
Legal & Regulatory Landscape
- Jurisdictional implementation models and legal instruments, including MCAA and domestic laws
- Impact of recent consolidated texts and amendments on due diligence and scope
- Compliance duties, timelines, and consequences of non-compliance
Due Diligence Essentials: Determining Tax Residency
- Essential documentation: self-certifications and reliable documentary evidence
- Indicia search protocols for both new and existing accounts
- Broader due diligence strategies and leveraging AML/KYC data to establish tax residence
Operationalizing CRS: Onboarding, Data Management, and Technology
- Embedding CRS checks into client onboarding and periodic review processes
- Required data elements for reporting, with practical focus on data quality and retention
- Evaluating automation and vendor tools against manual processes, including considerations for service providers
FATCA-Style Requirements and Comparative Best Practices
- Commonalities with FATCA, such as classification, reporting mechanics, and entity/beneficiary treatment
- Key differences to address, including scope, bilateral vs. multilateral approaches, and jurisdictional variations
- Practical mapping exercises: adapting FATCA controls to CRS-compliant workflows
Reporting, Exchange Mechanisms, and Audit Preparedness
- CRS report formats, transmission channels, and jurisdictional submission criteria
- Preparing for audits and regulator reviews through documentation, traceability, and due diligence evidence
- Sample 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 management for complex and entity accounts
- Remediation strategies and multi-jurisdiction coordination for legacy accounts
Practical Labs and Case Studies
- Lab: Review and verify sample account files and self-certifications to determine reportability
- Lab: Set up a 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
Wrap-up and Future Directions
Requirements
- A foundational grasp of financial services or compliance operations
- Basic knowledge of tax principles and client onboarding processes
- Previous experience with AML/KYC procedures is advantageous but not mandatory
Target Audience
- Compliance officers and legal departments
- Staff involved in onboarding, KYC, and client due diligence
- Teams responsible for tax reporting and operations 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
