Course Outline
Introduction to CRS and Global Tax Transparency
- The history and objectives of the CRS and Automatic Exchange of Information (AEOI)
- Reporting obligations: Definition of Reporting Financial Institutions and the scope of reportable accounts
- The relationship between CRS and FATCA, including overlapping and distinct requirements
Legal & Regulatory Framework
- Jurisdictional implementation models and legal instruments (MCAA, domestic legislation)
- Recent consolidated texts and amendments affecting due diligence and scope
- Compliance obligations, deadlines, and penalties for non-compliance
Due Diligence Fundamentals: Determining Tax Residency
- Required documentation: self-certifications and reliable documentary evidence
- Indicia search procedures for new and pre-existing accounts
- A broader approach to due diligence, leveraging AML/KYC information to establish tax residence
Operationalising CRS: Onboarding, Data Capture, and Systems
- Integrating CRS checks into client onboarding and periodic review workflows
- Data elements required for reporting and practical strategies for data quality and retention
- The use of automation and vendor tools versus manual processes; considerations for service providers
FATCA-like Requirements and Comparative Best Practices
- Key commonalities with FATCA (classification, reporting mechanics, treatment of entities and beneficiaries)
- Differences to consider (scope, bilateral vs. multilateral implementation, jurisdictional variance)
- Practical mapping exercises: adapting 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: 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/entity accounts
- Remediation pathways and multi-jurisdiction coordination for legacy accounts
Practical Labs and Case Studies
- Lab: Review and validate a set of sample account files and self-certifications; determine reportability
- Lab: Configure a simple data-extraction and reporting checklist; produce a mock CRS XML extract
- Case study: Managing complex entity structures, trusts, and controlling persons under CRS rules
Summary and Next Steps
Requirements
- A solid understanding of financial services or compliance functions
- Familiarity with fundamental tax concepts and client onboarding
- Experience with AML/KYC processes is beneficial 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
