Articles
Gain deeper insight with articles that give our considered opinion and predictions of where the industry will go next.
Are AML and CFT Based Practices for Validation of Tax Residency Inadequate for AEoI CRS Purposes?
Marco Zawar shares his views on why Anti Money Laundering and Counter Financing of Terrorsism related due diligence measures in Hong Kong are insufficient to meet financial institutions’ AML/KYC requirements under AEoI/CRS…
FATCA and CRS Curing Periods
Our affiliate, Marco Zawar, asks if FATCA and CRS document curing and classification requests to verify Change in Circumstances are being correctly implemented.
Deferral of FATCA and CRS Reporting Deadlines – Should You Be Taking Advantage?
With 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?
Nationality, domicile, residency, citizenship and beneficial ownership
We 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.
GATCA: A Practical Guide to Global Anti-Tax Evasion Frameworks
TConsult's subject matter experts Ross McGill, Chris Haye and Stuart Lipo have written a new book providing a practical guide to global anti-tax evasion frameworks. In this post, Stuart describes the context for the book...
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 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
FATCA Failures: Holistic compliance or just full of holes?
July 9, 2018In the last eighteen months we’ve conducted compliance reviews in five countries on twelve Tier 2 and Tier 3 financial institutions. In this post, we unpick the strategies we have seen firms use to approach their QI and FATCA obligations, and highlight the problems we have observed when firms fail to take a holistic approach to compliance.Read more
Your ‘Bible’ to Compliance
May 31, 2018The road to compliance is never ending and the IRS have certainly given us some interesting scenery to admire as we traverse the QI regulatory landscape. In this post we discuss the importance of a living compliance program, and highlight some of the IRS announcements that need to be reflected in your policies and procedures if you want to remain fully compliant.Read more
