FATCA

FATCA and CRS audits: Time to be prepared

Why should you be prepared for FATCA and CRS more than ever? The new Foreign Account Tax Compliance Act (“FATCA”) and Common Reporting Standard (“CRS”) law ratified on 18 June 2020 has not only increased compliance requirements once again but, at the same time, it has reinforced the power of the Luxembourg tax authorities to carry out an audit within a […]

Operational Taxes in 2020 – A year in the life of QI, FATCA, CRS & co!

The year 2020. A year of twists and turns…and significant developments in the area of operational taxes! From FATCA and CRS, to QI and TRACE, join us as we take you on a tour of the key changes and highlights. Qualified Intermediary (QI) Periodic Review for Luxembourg banks with QI status The periodic review (to be performed in 2021) will be conducted in li […]
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What US tax compliance means for the asset management sector

The US Internal Revenue Service (IRS) is increasing its efforts to ensure that non-US entities, including Luxembourg investment funds, comply with US tax rules. Tax authorities seem particularly focused on the following implications: Making US investments may lead to US tax compliance obligations: A company claiming treaty benefits should no […]
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Six US tax compliance updates you NEED to know

QI, FATCA, CRS, MDR…whatever you’re dealing with, you can be sure that the topic of compliance is never far behind. With the constantly changing needs of regulators, new technological capabilities and frequent legal updates, compliance is an ever-shifting challenge. To stay ahead of the game, we attended a leading industry conference (the 31st Internation […]
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Five big updates on QI, FATCA, CRS, and MDR

Compliance is an ever-shifting challenge, given the changing needs of regulators, new technological capabilities, and frequent legal updates. To help you stay on top of everything, our team has compiled the most important insights from the field of operational taxes. We were inspired by discussions at a recent industry-leading conference[1] we attended, where ta […]
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Is your organisation compliant with FATCA and CRS?

As tax specialists will already know, operational taxes are a crucial area for compliance matters nowadays. Broadly speaking, they encompass withholding taxes, transactional taxes, due diligence, and tax and investor reporting. In this article, we look at these requirements under the FATCA and CRS regimes. Keep reading for our 5-question checklist, designed to h […]