Tax compliance experts stress new challenges in CRS

New and complex tax compliance requirements pose major risks for financial institutions, some of whom may find it difficult to maintain sufficient expertise in a fast-changing regulatory environment, experts told the 14th Automatic Exchange of Information Tax Congress hosted by Osney Finance.

Some clients, having prepared for reporting under the U.S. Foreign Account Tax Compliance Act, believe they don’t need to worry about the common reporting standard (CRS), said Denise Hintzke, global FATCA tax leader at Deloitte. She highlighted differences between the two regimes and told delegates at the London event why they do need to worry about the CRS …

Read more: My news story for Tax Analysts, 17 September (paywall).