Learn & Taste #3

FATCA and CRS update and the link with the GDPR.

FATCA and the Common Reporting Standard (CRS) are live since 2014, respectively 2016. However certain application aspects continue to evolve.  During the conference, we will:

  • Provide a refresher on where we are in respect of FATCA/QI and the CRS (including an overview of the main industry impacts)
  • Focus on recent developments, such as:
    • the significant extension of the reporting scope of the CRS regarding the 2017 reporting (due on 30 June 2018 at the latest);
    • the OECD consultation document released in February 2018 regarding the prevention of abuse of residency by investment schemes to circumvent the CRS;
    • a draft EU Directive aiming to introduce specific rules for mandatory disclosure of arrangements undermining automatic exchange of information under the CRS.

During our event, we will explain who is (potentially) impacted, what will need to be done, and as from when this is expected. 

Apart from these developments, a broad spectrum of actors need to be ready since May 2018 with the implementation of the GDPR.  We will focus on the application of the GDPR within the context of FATCA and the CRS.

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