Is Asia ready for the Common Reporting Standard?

07 December 2017
16:00 – 17:00 (GMT +8)
 -  On demand
  Webinar

What is the webinar?

The Common Reporting Standard (CRS) is an information standard for automatic exchange of tax and financial information globally, developed by OECD and the G20. Over 100 countries already committed to report and exchange information, many of which already performed a first exchange in 2017. Major Asian markets, including China, Hong Kong, Malaysia and Singapore, are set to commence reporting in 2018.

The initiative calls for global tax compliance and transparency by automatic exchanging financial account information between participating jurisdictions. Entities and Financial Institutions that are established or are tax residents in any of the participating jurisdictions, should begin assessing their CRS classification status as required to determine their reporting obligations. Non-compliance with global regulations could result in an array of fines, as well as significant reputational damages.

With the reporting deadlines closing in, companies and financial institutions must review their existing internal policy and resources as well as their data collection, strategy and methodology for fulfilling their CRS obligations and make the necessary changes to ensure regulatory compliance.

During the webinar, experts will address what companies and financial institutions should do now to meet their CRS obligations in 2018. Webinar highlights include:

  • Latest development in CRS in APAC markets
  • FATCA and CRS: Interaction, differences and harmonising reporting
  • CRS implementation: Is your institution ready to begin reporting in 2018?
  • Overcoming operational challenges in entity classification, due-diligence and system automation in a multijurisdictional context
  • Building a robust and effective CRS framework

What is TMF Group’s involvement?

TMF Group is proud to be a sponsor of this webinar. Wendy Roest, our Portfolio Manager for Compliance and Regulatory Services based in Hong Kong, will be sharing insights on the Common Reporting Standard and some lessons learnt from the early adopters, as well as how can financial institutions and corporations be compliant.

If you have any questions on this subject, please send us an email at info.apac@tmf-group.com.

Speaker:

Wendy Roest - Portfolio Manager, Compliance and Regulatory Services, TMF Group

Read about ”Common Reporting Standard: What late adopters can learn from early adopters"