Course Outline
Introduction to CRS and Global Tax Transparency
- The history and objectives of CRS and Automatic Exchange of Information (AEOI)
- Reporting obligations: Identifying Reporting Financial Institutions and the scope of reportable accounts
- The relationship between CRS and FATCA, highlighting overlaps and distinctions in requirements
Legal & Regulatory Framework
- Jurisdictional implementation models and legal instruments, including MCAs and domestic legislation
- Recent consolidated texts and amendments affecting due diligence scope and procedures
- Compliance duties, critical timelines, and penalties for non-compliance
Due Diligence Fundamentals: Identifying Tax Residency
- Necessary documentation: self-certifications and reliable documentary evidence
- Indicia search procedures applicable to both new and pre-existing accounts
- Broader due diligence approaches, including leveraging AML/KYC data to establish tax residence
Operationalising CRS: Onboarding, Data Capture, and Systems
- Integrating CRS checks into client onboarding and periodic review workflows
- Required data elements for reporting, alongside practical strategies for data quality and retention
- Comparing automation and vendor tools against manual processes; specific considerations for service providers
FATCA-like Requirements and Comparative Best Practices
- Shared elements with FATCA, such as classification, reporting mechanics, and the treatment of entities and beneficiaries
- Differences to account for, including scope, bilateral versus multilateral implementation, and jurisdictional variances
- Practical mapping exercises: translating FATCA controls into CRS-compliant processes
Reporting, Exchange Mechanisms, and Audit Readiness
- CRS report formats, transmission channels, and jurisdictional submission requirements
- Preparing for audits and regulator reviews through documentation, traceability, and due diligence evidence
- Examples of reporting workflows and reconciliation checks
Risk Management, Governance, and Internal Controls
- Establishing governance frameworks, policies, and segregation of duties for CRS compliance
- Training, quality assurance, and exception handling for complex or entity accounts
- Remediation pathways and multi-jurisdiction coordination for legacy accounts
Practical Labs and Case Studies
- Lab: Review and validate sample account files and self-certifications to determine reportability
- Lab: Configure a basic data-extraction and reporting checklist to generate a mock CRS XML extract
- Case study: Managing complex entity structures, trusts, and controlling persons under CRS rules
Summary and Next Steps
Requirements
- Foundational knowledge of financial services or compliance functions
- Basic familiarity with tax concepts and customer onboarding processes
- Experience with AML/KYC processes is advantageous but not mandatory
Audience
- Compliance officers and legal teams
- Onboarding, KYC, and client due diligence staff
- Tax reporting and operations teams within financial institutions
Testimonials (3)
How to manage business financials
surprise mtileni - Hatima Holdings (Pty) ltd
Course - Learning Xero
Flexibility in the course delivery and the interactive approach. The trainer was open to questions, clarified doubts clearly and also considered participants suggestions during the sessions. The training was well structured and informative.
Soundarya Mohan - Mizuho Bank Europe N.V.
Course - Financial Analysis in Excel
Good communication, open for discussion, kept it interesting and engaging
