Tax Transparency: all systems go Action points for effective CRS compliance |
| The next wave of CRS reporting is about to begin – with financial institutions in Bahrain, Kuwait, Lebanon, Qatar, Saudi Arabia and the United Arab Emirates due to file their first CRS returns soon. It’s critical for all reporting institutions to have a robust CRS compliance roadmap in place, given the possibility that incorrect or incomplete reporting may result in steep financial penalties and reputational damage. To help smooth the way, the new Deloitte and Thomson Reuters paper, Are you prepared for CRS reporting?, recommends a series of action points. These include establishing a clear written compliance program, conducting a thorough CRS health check, and making sure that technology resources are fit for purpose. If you have any queries, or would like to speak to a Thomson Reuters representative, click here to contact us. |
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