Gain deeper insight with articles that give our considered opinion and predictions of where the industry will go next.

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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…

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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.

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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?

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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.

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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...

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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...

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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.

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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?

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  • We are hiring!

    We are looking for a new person to join our team delivering compliance support to our growing client base. Could you be our next up-and-coming consultant?Read more

  • How To Stay CRS Compliant

    CRS, otherwise known as the Common Reporting Standard, is a set of rules and technical reporting requirements that form the […]Read more

  • What Is An Exposure Map?

    If you need to ask that question, then you probably need one. At TConsult we’ve been working with financial institutions […]Read more

  • 什麼是曝險地圖報告?

    如果您需要問這個問題,那麼您可能需要一份。 在TConsult,我們與金融機構和稅務監管機關合作了20幾年,這意味著我們幾乎已經看過這一切,並做到了這一切。在過去的幾年裡,我們開發了一項曝險地圖報告(Exposure Map Report)的產品,幫助金融機構瞭解他們的風險和責任所在,以及他們需要做些什麼來應對這些風險和責任。今天,我們就來解釋一下這到底是什麼。 什麼是曝險地圖報告(Exposure Map Report)? 本質上,它是對金融公司受某些跨境稅務法規影響的分析報告。這是一種快速、簡單、無痛的方法,可以確定您是否在做正確的事情。我們會研究貴公司的機構和現狀,然後根據可能對貴公司產生影響的法規進行對照。 曝險地圖報告通常先決定報告要解決的問題。我們的報告可以涵蓋廣泛的法規,但最受歡迎的(絕大多數)是美國預扣稅。我們還涵蓋: FATCA/CRS DAC6 TRACE GDPR DORA FASTER BEPS 我們從一份簡單的調查問卷開始,收集有關貴公司及其獨特情況的大量資訊,從而瞭解貴公司可能面臨的問題。然後,我們將這些資訊與貴公司承擔的監管和合約義務相對照(因此得名),並找出貴公司在哪些方面不合規,或在哪些方面可以提高合規性或運營效率。然後,我們將報告交付給您,並安排一次EMR後電話會議,以澄清您感到困惑、需要更多資訊或有疑問的地方。 曝險地圖報告通常還能解決一些您可能完全忽略更技術性的問題。在與IRS打交道時,您將使用以下平台和入口網站與他們溝通: FIRE (1042-S) […]Read more

  • Why Am I Being Asked For a W-8?

    One of the most common questions I hear from investors is ‘why am I being asked for a W-8’? It’s […]Read more

  • The FASTER Directive Is Coming Up Fast – Are You Ready?

    By now, many of you should have heard about a new proposed EU Directive called FASTER. It stands for Faster […]Read more

  • W-8 – W-8驗證的險境

    美國的稅收制度是世界上最大的制度之一,意味著其變動將會對更廣大的市場帶來連鎖反應。FATCA是近期史上最大的變革之一,且對其他稅務市場的運作造成許多根本性的改變。特別是,確保金融機構需要使用一些美國W-8系列表單來收集客戶的FATCA(美國稅務)狀態訊息。 W-8系列表單是美國國稅局(IRS)不定時更新的紙本表單,有以下幾種類型: W-8BEN 給個人使用 W-8BENE 給實體與某些類型的信託使用 W-8ECI 給與美國商業貿易有效連結所得的客戶使用 W-8EXP 給政府或國際機構客戶使用 W-8IMY 給中介機構或某些類型的稅務透明信託使用 W-8表單為IRS做了一些事,任何時候有大約9億份W-8表單在流通。它們都有一個共通點 – 需要被驗證。 W-8有什麼作用 W-8表單涉及美國國內稅收法(或IRC) – 第4章(FATCA)與第3章(QI/NQI). 我特別按次順序說明,因為那是IRS法規要求遵循的盡職調查與驗證法規。這兩章都有對支付給客戶的美國來源FDAP所得課徵稅款的可能性。在第4章中稅率是30%,而第3章下稅率為30%或較低的租稅優惠協定稅率。這些法規基於非重複徵稅原則(亦即,如果第4章中有預扣稅款,則第三章無需預扣稅)。如果在第4章沒有需要預扣的稅款,那麼在第3章中的預扣稅款則依據W-8所聲明的正確稅率預扣 […]Read more

  • US Reporting Tax – How Does It All Work?

    As we get to the end of March, most of you will probably be fussing over your reporting obligations and […]Read more

  • The W-8 Web – Perils OF W-8 Validation

    The US tax system is one of the biggest in the world, which of course means that changes will have […]Read more