Common Reporting Standard (CRS)

Formation inter et intra-entreprise

À qui s'adresse la formation?

All parties interested in knowing how to apply the CRS legislation.
The level of sophistication can be tailored relative to the target audience ("Novice" to "Intermediary").

Niveau atteint

Débutant

Durée

4,00 heure(s)

Langues(s) de prestation

EN FR

Prochaine session

Objectifs

1. CRS has become effective in Luxembourg on January 1st 2016, requiring changes
  • in client on-boarding procedures
  • writing of self-certification templates
  • completion of self-certifications
  • review of existing client files before December 31st 2017
  • information/data collection, entity classification, raise awareness of relationship managers...

A thorough understanding and application of the CRS Luxembourg Law of December 18th 2015 is necessary to comply with CRS and ensure readiness for the second reporting to the Luxembourg Tax Authorities which is due to take place in June 2018 while the number of Reportable Jurisdictions has sensibly increased.

2. Objectives
  • Understand what CRS is – Purpose – Similarities and differences with FATCA
  • Understand due diligence requirements & entity classifications
  • Understand reporting requirements
  • Understand communication to clients
  • Understand contractual and regulatory obligations in the context of GDPR enforcement
  • Gain awareness on the main risks that are pursuant to CRS obligations for your firm and your clients (compliance/operational/financial risks…)

Contenu

1. Introduction
  • Legal Framework
  • The OECD Standard for Automatic Exchange of Information in Tax Matters
    • Process
    • Objectives
    • Components
    • CRS
    • CAA
    • The OECD Commentaries
    • Guidance on Technical Solutions
  • Current Status of commitments – Jurisdictions
  • Luxembourg Law of 18 December 2015
    • Timeline
    • Main concepts
    • Content
2. Residence for Tax purposes
3. Entities under the Law
4. Main obligations under the Law
  • Due diligence requirements
    • Pre-existing individual accounts
    • New individual accounts
    • Pre-existing entity accounts
    • New entity accounts
    • Role of the Relationship Manager
  • Reporting
    • Reporting Financial Institutions versus non Reporting Financial Institutions
    • Reportable Accounts
    • Reportable Persons
    • Deadlines
5. Data protection
6. Penalties
7. Going through the self-certification forming through the self-certification form
8. Classification: When is a company an Active NFE or a Passive NFE?
9. FATCA vs CRS
10. Useful Links

Certificat, diplôme

Nominative certificate will be issued to all participants

Informations supplémentaires

Price: From EUR 550, - per trainee (OPEN COURSE) or customisable (INTERNAL COURSE)

Ces formations pourraient vous intéresser

EN
Journée
Banque assurance - Banque - Droit réglementation bancaire