CRS: BVI Expands Reportable Controlling Persons
The British Virgin Islands (BVI) issued revised Common Reporting Standard (CRS) Guidance Notes on February 19, 2019. Included in the...
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Elizabeth A. McMorrow
Jan 29, 2019
China Bound Ex-Pats Beware!
As of January 1, 2019, ex-pats working in China who remain in-country for more than 183 days must report their global income to the...
Elizabeth A. McMorrow
Dec 13, 2018
FATCA Regs: Investment Entity Definition Clarified & Gross Proceeds Withholding Eliminated
Today the IRS released proposed FATCA regulations which clarify the definition of “Investment Entity,” and eliminate withholding on...
Elizabeth A. McMorrow
Jul 9, 2018
FATCA & CRS: Bahamas Now Open for Registration & Reporting
The Bahamas announced that its AEOI Portal is now open for CRS and FATCA registration and reporting. The key dates are: Deadline for...
Elizabeth A. McMorrow
May 31, 2018
FATCA & CRS: Cayman Islands New Deadline: July 31
The Cayman Islands changed its deadline for CRS and FATCA reporting: Original deadline May 31 Portal closed June 1 - June 14 Portal...
Elizabeth A. McMorrow
May 7, 2018
CRS: Why Is Cayman Asking for Even More Controlling Persons?
The Cayman Islands announced in March that it updated its CRS self-certifications to require that Passive Non-Financial Entities (NFEs)...
Elizabeth A. McMorrow
Mar 11, 2018
Is the OECD Asking Lawyers to Violate U.S. Laws?
On March 9, 2017, the Organization for Economic Cooperation and Development (OECD) issued new model disclosure rules that require...
Elizabeth A. McMorrow
Mar 8, 2018
CRS & FATCA Record-Keeping Clock
It is clear that you must retain records under FATCA and CRS but for how long and when does the clock start ticking? Taking the most...
Elizabeth A. McMorrow
Feb 13, 2018
CRS: Singapore’s Updated Portal & Reportable Jurisdictions
The Singapore tax authority (Inland Revenue Authority of Singapore (IRAS)) announced that it has updated the services available in its...
Elizabeth A. McMorrow
Dec 28, 2017
What Is a Foreign Grantor Trust?
A trust is established in a U.S. jurisdiction such as South Dakota and a South Dakota trustee is appointed. How could this trust be...
Elizabeth A. McMorrow
Oct 29, 2017
New Training
Please see my new training programs page on my site. The programs cut across my specialties in: Managing legal issues in foreign...
Elizabeth A. McMorrow
Oct 13, 2017
CRS: Cayman Islands & Brazil Time to Plan for 2018 Expanded Reporting
CRS placed a tremendous burden on financial institutions (FIs) during the 2017 reporting season. This burden will only increase during...
Elizabeth A. McMorrow
Aug 17, 2017
FATCA & CRS: Perfect Reporting Process But Still Non-Compliant
Reporting is almost over and you can take a breath. You followed FATCA, IGA, CDOT and CRS requirements in your reporting and due...
Elizabeth A. McMorrow
Aug 15, 2017
CRS: BVI Extends Reporting Deadline to September 1
The British Virgin Islands tax authority announced that it has extended the deadline for UK FATCA/CDOT and Common Reporting Standard...
Elizabeth A. McMorrow
Jul 28, 2017
FATCA: Mauritius Reporting Deadline Extended
The Mauritius Revenue Authority (MRA) announced that it has decided to extend the due date for the transmission of FATCA information to...
Elizabeth A. McMorrow
Jul 25, 2017
FATCA & CRS: Don’t Forget to Deregister
If you sold, liquidated or otherwise terminated a Reporting Financial Institution (FI) prior to January 1 of this year, you may need to...
Elizabeth A. McMorrow
Jul 21, 2017
FATCA & CRS: Caymans Extends Reporting Date to August 31
The Cayman Islands announced that the reporting deadline for FATCA and CRS has been extended to August 31, 2017. This will be the final...
Elizabeth A. McMorrow
Jul 5, 2017
CRS: Bahamas Changes from Narrow to Wider Approach
The Bahamas tax authority recently announced that it no longer plans to follow the narrow approach in CRS compliance. It will instead...
Elizabeth A. McMorrow
Jun 23, 2017
CRS & FATCA: Cayman Extends Registration Deadline
The Cayman Islands announced yesterday that it extended the deadline for Financial Institutions (FIs) to register in the Cayman Islands...
Elizabeth A. McMorrow
Jun 21, 2017
CRS: Hong Kong Significantly Expands List of Reportable Jurisdictions
Hong Kong is ahead of many other jurisdictions committed to CRS reporting in 2018. It has already completed implementation legislation,...
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