Following a landmark Gauteng Division of the High Court judgment, Meta must permanently remove dozens of accounts spreading child sexual abuse content...
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- HARNEYS.COM - A La Une - 11/Jul 12:35
Demystifying FATCA and CRS in under two minutes
Are you confused about FATCA, and CRS? FATCA and CRS are two forms of Automatic Exchange of Information (AEOI). AEOI is an international standard for the automatic exchange of financial account information between tax authorities of different countries. FATCA, more completely, the Foreign Account Tax Compliance Act is originally a piece of US that requires foreign financial institutions (FFIs) to report information on financial accounts held globally by US citizens and residents, to the US tax authorities. CRS, more completely the Common Reporting Standard, is in many ways a global version of FATCA and requires financial institutions (FIs) to report information on accounts held by tax residents of Reportable Jurisdictions and certain entities controlled by such tax residents.
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