This one-day course consists of the following modules:
The Principles of International Tax
- Definition and scope
- Reasons for tax rules
- Legal basis for DTAs
- Types of DTAs (UN Model Treaty and OECD Model Treaty)
- Relief methods
- Taxation of non-residents
- Anti-avoidance
- Impact on affected financial institutions – residence of individuals
- QI, FATCA and CRS as offspring
Qualified Intermediary & US Withholding
- Scope and objectives
- Modus operandi
- The QI Agreement – obligations (identification, documentation, reporting and withholding), compliance framework, certification
- Various forms in use (1099, 1042, 1042-s)
- Risks (penalties, material failure, events of default, QI Status)
FATCA
- Background, legal framework
- Scope and objectives
- Modus operandi
- IGA Model 1 and 2
- Relevant forms (W8, W9, self-certs)
- Reporting, withholding
- Risks (penalties)
CRS
- Background, legal framework
- Scope and objectives
- Modus operandi
- Forms (self-certs, overlaps with FATCA or QI)
- Reporting
- Risks (penalties)
DAC6, DAC8/CRS 2.0/CARF
- Origins, legal framework
- Current status
- Impact on FI’s obligations
- Risks of non-compliance
About this course
This course is run by our affiliate, Leo Schikhof.
Leo’s courses are aimed at staff of financial services institutions who have little or no experience with these regulations yet. Typically this would be newly hired personnel in Tax Ops, Operations, Compliance and, in some cases, Legal or Sales.
He presents in English or German. Materials are always in English.
The course is available in classroom format and can be delivered in person worldwide (not online). They can also be scheduled as part of an event.