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20220609 Latest Development on Common Reporting Standard (CRS)
Description
As part of the global fight against tax evasion, tax authorities have developed broad powers to capture information held by financial institutions (FIs). This led to the development of the Common Reporting Standard (CRS), which will facilitate the automatic exchange of financial account information across more than 100 participating jurisdictions.
As CRS has been implemented for a number of years, the tax authorities around the world, including Hong Kong, are now focusing their efforts on reviewing the information exchanged.
We are delighted to invite you to join this webinar where PwC professionals will take you through the entire CRS compliance journey to raise your awareness of the key requirements of CRS, the implications that it has on FIs and their account holders, and the latest legislative requirements and trends on CRS.
Content
- Recap of CRS (including a brief introduction on CRS, key requirements, latest trend of the tax authority in reviewing CRS)
- Reporting under CRS (including who, how and what to report under CRS)
- Impacts on FIs (especially on private investment company)
- Impacts on account holders