Course Outline
Introduction to CRS and the Landscape of Global Tax Transparency
- The origins and objectives of the CRS and the Automatic Exchange of Information (AEOI)
- Identifying Reporting Financial Institutions and defining the scope of reportable accounts
- Analyzing the relationship between CRS and FATCA, highlighting overlaps and distinct differences
Legal and Regulatory Context
- Exploring jurisdictional implementation models and key legal instruments such as the MCAA and domestic legislation
- Reviewing recent consolidated texts and amendments that affect due diligence scope
- Understanding compliance duties, critical timelines, and the penalties associated with non-compliance
Due Diligence Basics: Determining Tax Residency
- Required documentation, including self-certifications and reliable documentary proof
- Indicia search methodologies for both new and pre-existing accounts
- Applying a broader due diligence approach by leveraging AML/KYC data to ascertain tax residence
Implementing CRS: Onboarding, Data Management, and System Integration
- Embedding CRS checks within client onboarding and periodic review workflows
- Identifying essential data elements for reporting and adopting best practices for data quality and retention
- Evaluating the use of automation and vendor tools against manual processes, with specific considerations for service providers
FATCA-Analogous Requirements and Comparative Best Practices
- Identifying key similarities with FATCA, including classification, reporting mechanics, and entity handling
- Recognizing differences in scope, implementation models (bilateral vs. multilateral), and jurisdictional variations
- Conducting practical mapping exercises to adapt FATCA controls into CRS-compliant processes
Reporting, Exchange Protocols, and Audit Preparedness
- Understanding the formats and transmission channels for CRS reports, along with jurisdictional submission specifics
- Preparing for audits and regulator reviews through rigorous documentation, traceability, and evidence of due diligence
- Examining sample reporting workflows and reconciliation verification steps
Risk Management, Governance, and Internal Control Structures
- Establishing governance frameworks, policies, and segregation of duties to ensure CRS adherence
- Implementing training, quality assurance, and exception handling for complex or entity-based accounts
- Developing remediation strategies and multi-jurisdiction coordination for legacy account issues
Practical Labs and Real-World Case Studies
- Exercise: Reviewing and validating sample account files and self-certifications to determine reportability
- Exercise: Configuring a basic data-extraction and reporting checklist to generate a mock CRS XML output
- Case study: Navigating complex entity structures, trusts, and controlling persons under CRS regulations
Conclusion and Future Directions
Requirements
- A solid grasp of financial services or compliance functions
- Knowledge of fundamental tax principles and customer onboarding processes
- Experience with AML/KYC procedures is advantageous but not mandatory
Target Audience
- Compliance officers and legal department teams
- Staff involved in onboarding, KYC, and client due diligence
- 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
