Articles
Gain deeper insight with articles that give our considered opinion and predictions of where the industry will go next.
3 Big Problems with US Tax Regulations
We explore some of the problems we have encountered surrounding the use of Form W-8BEN-E by brokerages and issuers of equity linked instruments.
5 things you need to know about U.S. tax reporting in 2022
If your firm is exposed to the US securities market, you may have a 1042-S and 1042 reporting obligation to the IRS. Find out more...
FATCA AML/KYC procedures in Hong Kong: State-of-the-art compliance?
Can 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?
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?
TRACE: The next big tax thing
Since 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.
Benefits of Being a US Qualified Intermediary: Malta Stock Exchange
TConsult 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.
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.
Are FATCA’s Dissenters Tilting at Windmills?
November 8, 2017Like Don Quixote, FATCA’s dissenters may have misidentified their enemy. So what is the problem with FATCA and what might happen if the anti-FATCA movement succeed in getting it repealed?Read more
The Challenges of GATCA
November 8, 2017The 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...Read more
FATCA Misconceptions
November 8, 2017For 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....Read more
Will AEoI be the new Equifax?
September 19, 2017What 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.Read more
Why W8? – Start re-papering over the cracks now!
September 13, 2017QIs 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.Read more
3 Things To Annoy You About W-8s and 3 Things You’ll Love
July 31, 2017The 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...Read more
Remember your New Reporting Obligations Under AEoI / CRS
May 31, 2017You'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?Read more
Publication 5262 – QI Portal
February 8, 2017Continuing 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.Read more
