Articles
Gain deeper insight with articles that give our considered opinion and predictions of where the industry will go next.
The Challenges of GATCA
The global anti-tax evasion frameworks that comprise GATCA have as many commonalities as they have differences, so it makes sense to approach regulatory compliance in a holistic fashion.
In this post, we explore how smaller firms are responding to the pressures of compliance...
FATCA Misconceptions
For some within the industry, the mere mention of ‘FATCA’ is enough to spark compliance-nightmare flashbacks.
The ever unpopular FATCA regulations have now been with us for seven years. But, despite its relative longevity, there are a surprising number of misconceptions surrounding FATCA....
Will AEoI be the new Equifax?
What are the data security risks associated with the AEoI framework? In this post, Ross McGill explores some of the risks and issues a stark warning to the financial services industry.
Why W8? – Start re-papering over the cracks now!
QIs and NQIs face a rare opportunity to dramatically increase their W-8 compliance rate by re-papering all existing clients using the IRS' new W-8 forms. Find out how such a project could benefit your firm and why it could be worth it in the long run.
3 Things To Annoy You About W-8s and 3 Things You’ll Love
The IRS just made three HUGE changes to W-8 series of self certification forms used by almost every financial institution across the globe to categorise their non-US customers, and there's a lot to love...
Remember your New Reporting Obligations Under AEoI / CRS
You're just getting over the initial FATCA and QI reporting, submitted all of your 1042-S forms, and now you're looking ahead to September and the deadline for all those 1042 forms. However, you may need to report under AEoI/CRS at the same time. Are you planning ahead to avoid this headache?
Publication 5262 – QI Portal
Continuing the burst of activity, what better way to start a new year, than with a new QI, WP & WT portal and its bed time reading material, Publication 5262, which of course goes hand in hand with the new QI Agreement,Revenue Procedure 2017-15.
美國證券稅收制度對台灣金融機構的影響-不像看起來的那麼簡單
March 24, 2021The first in a series of articles designed to help financial firms in Taiwan understand the pitfalls and opportunities of trading in US securities or derivative financial products.Read more
FATCA AML/KYC procedures in Hong Kong: State-of-the-art compliance?
August 17, 2020Can tax authorities rely on the fact that financial institutions have adequate AML/KYC and client due diligence procedures in place to populate and file the fiscal information required under FATCA?Read more
FATCA and CRS Curing Periods
August 10, 2020Our affiliate, Marco Zawar, asks if FATCA and CRS document curing and classification requests to verify Change in Circumstances are being correctly implemented.Read more
QI Status – Is It Worth It?
June 1, 2020To QI, or not to QI? That is the question – and one we get asked about an awful lot. […]Read more
Deferral of FATCA and CRS Reporting Deadlines – Should You Be Taking Advantage?
May 20, 2020With the entrance of Covid-19, a lot of things have changed in the world, and a lot of extra stressors have piled on. And it's left firms wondering, should they take advantage of the defered FATCA and CRS reporting deadlines?Read more
TRACE: The next big tax thing
October 2, 2019Since Finland announced that it would be the first country to adopt the OECD’s The Tax Relief and Compliance Enhancement (TRACE) IP from 1st January 2021, there has been much excitement in the marketplace about the new regime and the opportunity it presents for financial institutions operating in global markets.Read more
Benefits of Being a US Qualified Intermediary: Malta Stock Exchange
December 21, 2018TConsult is delighted to announce that we have been invited to present a training course for the Malta Stock Exchange, where we will be delivering a two hour presentation discussing the benefits of being a US qualified intermediary at 9am on Monday 21st January 2019.Read more
Nationality, domicile, residency, citizenship and beneficial ownership
October 10, 2018We often find that linguistic issues can cause problems for firms looking to establish the correct withholding rate for their clients. In particular, we have seen the distinctions between nationality, citizenship, domicile, residency and beneficial ownership cause a degree of avoidable consternation. In this post, we present a quick reference guide.Read more
CorpActions2018 (London)
September 24, 2018TConsult's chairman, Ross McGill, will be appearing as a panelist at CorpActions2018 in London on Wednesday 3rd October alongside Mariano Giralt from BNY Mellon and Paola Deantoni from SG Securities Services to discuss tax and reporting, including inefficient withholding tax collection procedures, communication flow issues across cross-border capital markets, tax evasion regulation, where the responsibility for failures lies, and entitlements.Read more
Tax Congress for Financial Institutions (London)
September 17, 2018TConsult's chairman, Ross McGill, will be appearing as a panelist at the Tax Congress for Financial Institutions in London on Wednesday 19th September alongside Peter Grant from KPMG and Kevin Custis from Rathbones to discuss KYC, AML, Tax Avoidance and Tax Evasion in the Digital Age.Read more
