Insights

Is It Just Black Or White?

Black lists used to be a sort of smoke filled, back room affair only discussed in private. But these days they are being eagerly wielded as significant geo political threats. UAE is the latest country to be targeted for media attention, with the news that the G20 is...

Have Your Say: Another Responsibility For A Responsible Officer

In a post in September we talked about some of the responsibilities of the ‘Responsible Officer’ within your financial organisation. This post was, unfortunately, just the tip of the iceberg, as there are many more duties the responsible officer takes on. The IRS is...

Time is running out for the 2014 Form W-8BEN-E

Back in April, the IRS issued a revised version of Form W-8BEN-E, which is used by non-US entities to report (among other things) their Identity and IRC Chapter 3 & 4 status to withholding agents. Regulations permit withholding agents to accept prior versions of...

Some Basic Responsibilities for a Responsible Officer

Being a QI and Responsible Officer is not just about signing a bit of paper and filing this away....it is an on-going and ever developing regime. The ever-developing nature of the IRC Chapter 3 (QI regime), FATCA and now CRS & AEoI (informally know as GATCA) means...

FATCA in the Firing Line

September has been a bad month for FATCA. Earlier this month, Representative Mark Meadows (Republican, North Carolina) introduced Bill: H.R. 5935 in The House of Representatives. Evocatively labelled “to repeal the violation of sovereign nations’ laws and privacy...

Tax Reporting Does ACTUALLY Matter

Regulation... regulation... sorry, what's that? More regulation? You think that tax evaders get away with it? Or that your reports as a Foreign Financial Institution (FFI) are not monitored? Well, think again! FATCA and now CRS together with the Automatic Exchange of...