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Automatic Exchange of Information

Automatic Exchange of Information

Common Reporting Standard (CRS), Automatic Exchange of Information

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Common Rerorting Standards for the Automatic Exchange of Information

The report looks at the impact of Common Reporting Standard(CRS) and the influence these new Standards have upon financial institutions around the world, and considers the steps financial institutions should take to achieve compliance cost-effectively.

Contents

  • Summary
  • Customer information reporting –expected timelines
  • A coordinated effort against taxevasion
  • Components of an AEoIsystem
  • The three main reporting andexchange initiatives
  • FATCA
  • Revised EU Savings Directive
  • OECD Common ReportingStandard (CRS)
  • The OECD Common ReportingStandard (CRS) in detail
  • Due diligence and KYC processes
  • Monitoring of change ofcircumstance processes
  • Central taxation and reportingmodule to identify reportableevents
  • Reporting processes
  • Governance and complianceprocesses
  • The impact of the CRS on thefinancial services industry
  • Who is affected and how?
  • KPMG viewpoint: the CRS is notFATCA 2.0
  • Preparing for CRS
  • How can KPMG help?
  • Ten key questions about your stateof readiness for CRS

KPMG and the KPMG logo are registered trademarks of KPMG International Cooperative ("KPMG International") a Swiss entity. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. The views and opinions expressed herein are those of the author and do not necessarily represent the views and opinions of KPMG International Cooperative ("KPMG International") or KPMG member firms.

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