Common Reporting Standard (CRS)

Compliance

You have successfully been enrolled to this course !

Course trailer

Common Reporting Standard (CRS)

Introduction

The Common Reporting Standard (CRS) is a global standard for the automatic exchange of financial account information. It was developed by the Organisation for Economic Cooperation and Development (OECD). CRS calls on jurisdictions to obtain information from their financial institutions and to automatically exchange that information with other jurisdictions on an annual basis. It sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions. 

Its purpose is to combat tax evasion and to improve transparency. The idea was based on the US FATCA implementation agreements and its legal basis is the Convention on Mutual Administrative Assistance in Tax Matters. More than 100 countries have committed to CRS, including all EU member states and major financial centers around the world. Many African jurisdictions will be exchanged for the first time this year.

Course goals:

The learning outcomes of the course will allow participants to:

  • Have a deeper understanding of the filing requisites of CRS;
  • Have a guide for future CRS classification and reporting exercises;
  • Devise better on-boarding process of clients in line with CRS; and
  • Devise a better ongoing monitoring process of clients in line with CRS.

Duration of course:

Expected to be delivered and completed within 62 minutes.

COURSE OUTLINE

  • Section 1: Introduction to CRS | Classification Exercise | Due Diligence Exercise
  • Section 2: Entry Classification | Reporting Exercise | Worked Examples

Course tutor

Johanne Hague

Barrister-At-Law / International Tax Specialist

About our tutor

Johanne is one of the few lawyers in Mauritius specialising in domestic and international taxation. She has considerable experience in tax legislation in the UK, Mauritius, and a number of emerging markets. Johanne has also developed expertise in the FATCA and CRS legislation, Automatic Exchange of Information, and BEPS.