About CRS Training
The ‘Automatic Exchange of Information’ (‘AEOI’) is the term used to describe the exchange of financial information between countries without either party having to request it. The information, which is required for tax purposes to help combat tax evasion, is exchanged automatically and covers individuals, trusts, companies and other entities.
As a consequence of FATCA and CRS, service providers and governments around the world are operating in an environment where AEOI is common place. Launched in 2010, FATCA transformed the landscape of tax compliance and prevents US citizens evading tax on their overseas income/assets. Following this, the OECD developed the Common Reporting Standard to facilitate the automatic exchange of information between countries to help combat tax evasion. Whilst the issue being addressed is simple, the initiatives which have been introduced have been far from simple.
Practical application of the CRS rules can be challenging, both for the busy practitioner as well as new members of staff required to understand the rules for the first time. CRS Expert is designed to improve and enhance the knowledge, skills and performance of practitioners responsible for the practical implementation of the Common Reporting Standard.
100% ONLINE LEARNING
Learn at your own pace.
INTRODUCTORY LEVEL
No prior knowledge is required.
FLEXIBLE SCHEDULE
The course helps you learn and progress when you have limited time.
MULTIPLE LANGUAGES
The course is available in English and Chinese, with further language versions to follow.
How it works
8 LEARNING MODULES | 50+ CASE STUDIES
Adopts a case study approach to explain practical application of the rules. Over 55 case studies are included, spread across 8 separate modules, including trusts, listed companies, investment entities, active NFEs and arrangements involving debt.
SELF-ASSESSMENT TESTS
Effective training and development is about knowing and understanding your current level of competency and being able to track your progress over time. CRS Training contains a self assessment function where students may test their knowledge in relation to specific structure types, such as trusts, or their general knowledge of the entire course. Self Assessment results are instantly available, with areas of weakness highlighted and incorrect answers fully analyzed.
SIMULATED STRUCTURES
Full use of the workshop function in order to create and analyze structures that you may create, whether involving trusts, foundations, companies, mutual or hedge funds.
Modules
1
MODULE
INDIVIDUAL ACCOUNT HOLDER
This module will described and illustrate application of the Common Reporting Standard (CRS) to a Financial Account held by a natural person (Individual). Modules 2 - 8 will explain application of the CRS to a Financial Account held by an Entity.
The intention is that module 1 will enable compliance professionals to accurately apply the CRS through a full range of possible variations that may affect an Individual Account Holder.
2
MODULE
PASSIVE NFE ENTITY ACCOUNT HOLDER
Module 2 will enable compliance professionals to accurately apply the CRS through a range of possible variations that may affect an Account Holder that is a Passive NFE [CRS Section VIII D. 8 (i)].
3
MODULE
ACTIVE NFE ENTITY ACCOUNT HOLDER
Module 3 will enable compliance professionals to accurately apply the CRS through a range of possible variations that may affect an Account Holder that is an Active NFE [CRS Section VIII D. 8 (i)].
4
MODULE
REPORTING FINANCIAL INSTITUTION ACCOUNT HOLDER
Module 4 will enable compliance professionals to accurately apply the CRS through a range of possible variations that may affect the reportable status of a Financial Institution Account Holder, with particular emphasis on Financial Accounts held by Managed Investment Entities (CRS Section VIII A. 6(b)), and Custodial Institutions (CRS Section VIII A. 4).
5
MODULE
NON-REPORTING FINANCIAL INSTITUTION ACCOUNT HOLDER
Module 5 will enable compliance professionals to accurately apply the CRS through a range of possible variations that may affect an Account Holder that is a Non-Reporting Financial Institution, with particular emphasis on Financial Accounts held by Broad and Narrow Participation Funds (together Occupational Pension Fund) [CRS Section VIII B. 5 - 6].
6
MODULE
LISTED COMPANY
Module 6 will enable compliance professionals to accurately apply the CRS through a range of possible variations that may affect the reportable status of an Account Holder that is a Listed Company.
7
MODULE
DEBT
Modules 7 and 8 are related modules, and together illustrate application of the CRS to an Account maintained by a Financial Institution Trust (Managed Investment Entity, CRS Section VIII A. 6(b))(Trust).
Module 7 concentrates on Financial Accounts constituted by a Debt Interest in the Trust, while Module 8 will concentrate on Financial Accounts constituted by an Equity Interest (such as Settlor, Trustee) in the Trust.
Module 7 will enable compliance professionals to accurately apply the CRS through a range of possible variations that may affect the reportable status of an Entity that holds a Debt interest in a Trust.
8
MODULE
TRUST AS REPORTING FINANCIAL INSTITUTION
Module 8 will enable compliance professionals to accurately apply the CRS through a range of possible variations that may affect the reportable status of an Entity that holds an Equity Interest in a Trust.
What People Say
— PAICOLEX TRUST
"Brilliant on all fronts, extremely well explained"
Training Author
Zac Lucas is a practicing lawyer with over 20 years legal experience, admitted in England & Wales, and is a former Partner of various international law firms including, Harneys, Ogier, Lawrence Graham and Gowling WLG. Zac has particular expertise advising on international regulatory law and has lectured and written extensively on the OECD Common Reporting Standard (CRS) and the related Mandatory Disclosure Rules (MDRs).
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NO software integration or download
NO access to your server or any regulated data
NO onsite installation