Course Outline
Introduction to CRS and Global Tax Transparency
- Overview of the history and objectives of CRS and the Automatic Exchange of Information (AEOI)
- Identification of Reporting Financial Institutions and the scope of reportable accounts
- Analysis of the relationship between CRS and FATCA, highlighting overlaps and distinctions
Legal & Regulatory Framework
- Exploration of jurisdictional implementation models and legal instruments (MCAA, domestic laws)
- Review of recent consolidated texts and amendments affecting due diligence scope
- Discussion of compliance duties, timelines, and consequences of non-compliance
Due Diligence Fundamentals: Identifying Tax Residency
- Requirements for documentation, including self-certifications and reliable evidentiary materials
- Procedures for indicia searches across new and pre-existing accounts
- Application of a broad due diligence approach, leveraging AML/KYC data to ascertain tax residence
Operationalizing CRS: Onboarding, Data Capture, and Systems
- Integration of CRS checks into client onboarding and periodic review processes
- Identification of required data elements for reporting and strategies for data quality and retention
- Evaluation of automation and vendor tools versus manual processes, with specific considerations for service providers
FATCA-like Requirements and Comparative Best Practices
- Examination of commonalities with FATCA, such as classification and reporting mechanics
- Assessment of differences requiring strategic planning, including scope and implementation models
- Practical mapping exercises to translate FATCA controls into CRS-compliant processes
Reporting, Exchange Mechanisms, and Audit Readiness
- Review of CRS report formats, transmission channels, and jurisdictional submission mandates
- Preparation for audits and regulatory reviews, focusing on documentation and evidence of due diligence
- Analysis of sample reporting workflows and reconciliation procedures
Risk Management, Governance, and Internal Controls
- Design of governance frameworks, policies, and segregation of duties for CRS compliance
- Implementation of training, quality assurance, and exception handling for complex entity accounts
- Development of remediation pathways and multi-jurisdiction coordination for legacy accounts
Practical Labs and Case Studies
- Lab: Review and validate sample account files and self-certifications to determine reportability
- Lab: Configure a data-extraction and reporting checklist to generate a mock CRS XML extract
- Case study: Management of complex entity structures, trusts, and controlling persons under CRS rules
Summary and Next Steps
Requirements
- A foundational understanding of financial services or compliance operations
- Familiarity with basic tax principles and customer onboarding procedures
- Experience with AML/KYC processes is beneficial but not mandatory
Target Audience
- Compliance officers and legal departments
- Onboarding, KYC, and client due diligence personnel
- 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
