Course Outline
Introduction to CRS and Global Tax Transparency
- The history and purpose of CRS and Automatic Exchange of Information (AEOI)
- Identifying who must report: Reporting Financial Institutions and the scope of reportable accounts
- The relationship between CRS and FATCA, highlighting areas of overlap and divergence
Legal & Regulatory Framework
- Jurisdictional implementation models and legal instruments, including MCAA and domestic legislation
- Recent consolidated texts and amendments affecting due diligence and scope
- Compliance obligations, timelines, and penalties for non-compliance
Due Diligence Fundamentals: Identifying Tax Residency
- Essential documentation: self-certifications and reliable documentary evidence
- Indicia search procedures for both new and pre-existing accounts
- Broader due diligence approaches and the utilization of AML/KYC information to determine tax residence
Operationalizing CRS: Onboarding, Data Capture, and Systems
- Integrating CRS checks into client onboarding and periodic review workflows
- Reporting data requirements and practical strategies for data quality and retention
- Evaluating automation and vendor tools versus manual processes; considerations for service providers
FATCA-like Requirements and Comparative Best Practices
- Commonalities with FATCA, such as classification, reporting mechanics, and treatment of entities and beneficiaries
- Key differences to address, including scope, bilateral versus multilateral implementation, and jurisdictional variance
- Practical mapping exercises: translating FATCA controls into CRS-compliant processes
Reporting, Exchange Mechanisms, and Audit Readiness
- Formats and transmission channels for CRS reports; jurisdictional submission requirements
- Preparing for audits and regulator reviews: ensuring documentation, traceability, and evidence of due diligence
- Sample reporting workflows and reconciliation checks
Risk Management, Governance, and Internal Controls
- Designing governance frameworks, policies, and segregation of duties for CRS compliance
- Training, quality assurance, and exception handling for complex and 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 simple 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
- A foundational understanding of financial services or compliance functions
- Familiarity with basic tax concepts and customer onboarding
- Experience with AML/KYC processes is beneficial but not mandatory
Target 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
