Blog
![Thumbnail for the blog: Financial scandals: a lesson on risk, compliance and regulations](/sites/default/files/2023-01/B7_Eng_W.png)
Financial scandals: a lesson on risk, compliance a…
There is always a risk when dealing with financial transactions in the business world. Many financial institutions…![Desayuno Chile: Cumplimiento CRS y FATCA](/sites/default/files/2022-12/Blog%20Thumbnail%20Webpage.png)
Breakfast in Chile: Compliance, CRS and FATCA
Trans World Compliance, together with Mena Alessandri & Asociados/ 360ºmfo and Plataforma.legal, hosted the…![La importancia de una industria de cumplimiento frictionless](/sites/default/files/2022-12/B4_Spa_B.png)
The importance of a frictionless compliance indust…
By: Felipe Mora, VP of Sales and Marketing Force and friction are often two concepts that we relate to physics,…![Israel’s Tax Authority has its eye on nationals with financial accounts overseas](/sites/default/files/2022-11/Blog%20Thumbnail%20Webpage%20%289%29.png)
Israel’s Tax Authority has its eye on nationals wi…
By: Trans World Compliance The Israeli Tax Authority received information about hundreds of Israeli bank accounts…![5 key trends from the MAP Statistics 2021](/sites/default/files/2022-11/Key%20trends%20MAP.png)
5 key trends from the MAP Statistics for 2021
By: Trans World Compliance As acknowledged by the G20 leaders, maintaining and strengthening tax certainty is…![OECD's Peer Review Results](/sites/default/files/2022-11/OECDs%20Peer%20Review%20results.png)
OECD's Peer Review Results
By: Trans World Compliance The Peer Review ratings presented by the OECD show the efforts that jurisdictions are…![The OECD's Crypto Asset Reporting Framework: here's everything you need to know](/sites/default/files/2022-11/B3_Eng.png)
The OECD's Crypto Asset Reporting Framework:…
By: Trans World Compliance The OECD released a new global tax transparency framework that facilitates the reporting…![Regulatory reporting for banks: why is it important?](/sites/default/files/2022-10/Blog%20Thumbnail%20Webpage%20%286%29_0.png)
Regulatory reporting for banks: why is it importan…
By: Trans World Compliance Regulatory reporting is an integral part of banking and finance. It helps financial…![Regulatory compliance for beginners](/sites/default/files/2022-10/Blog%20Thumbnail%20Webpage%20%283%29.png)
Regulatory compliance for beginners
By: Trans World Compliance Regulatory compliance is a broad term that describes an organization’s efforts to…![First glimpse of CRS Data Quality](/sites/default/files/2022-11/24.png)
First glimpse of CRS Data Quality
By: Dave Olenzak. President and Founder of TWC. The OECD has provided the first glimpse of CRS Data Quality. This…![EU blacklist updates: Dominica in and Barbados out](/sites/default/files/2022-11/23.png)
EU blacklist updates: Dominica in and Barbados out
The Council of the European Union met on Monday and has since released the conclusions it adopted on the revised EU…![Question Time](/sites/default/files/2022-11/Blog%20Thumbnail%20Webpage%20%288%29.png)
Question Time
Question Time section from Trans World Compliance. Test your CRS and FATCA knowledge with a new question each week.…![CTS 2.0 Supported Data Types](/sites/default/files/2022-11/22.png)
CTS 2.0 Supported Data Types
By: Dave Olenzak. President and Founder of TWC. In March, 2021 the OECD’s data exchange mechanism, the Common…!["Economic Substance" tests](/sites/default/files/2022-11/21_0.png)
"Economic Substance" tests
By: Dave Olenzak. President and Founder of TWC. The OECD’s Forum on Harmful Tax Practices has developed under the Base…![What is the Common Transmission System (CTS) and how does it affect me?](/sites/default/files/2022-11/20.png)
What is the Common Transmission System (CTS) and h…
By: Dave Olenzak. President and Founder of TWC. The CTS is run by the OECD and is used to exchange Common Reporting…![What is the EU Tax Blacklist?](/sites/default/files/2022-11/19_1.png)
What is the EU Tax Blacklist?
By: Dave Olenzak. President and Founder of TWC. The EU Black List is based on three criteria: Transparency, Fair Tax…![Bahamas and Blacklisting](/sites/default/files/2022-11/18.png)
Bahamas and Blacklisting
By: Dave Olenzak. President and Founder of TWC. According to the Tribune, an incorrect email address led to France's…![Responsible Office Reporting](/sites/default/files/2022-11/17.png)
Responsible Office Reporting
By Dave Olenzak. President and Founder of TWC. The IRS FATCA certification requires Periodical Certification of all…![CRS Reporting 2021 - are you ready to meet the challenges?](/sites/default/files/2022-11/16.png)
CRS Reporting 2021 - are you ready to meet the cha…
By: Marco Zawar. MBA/LL.M Introduction In June 2019 the OECD released Version 3.0 of their CRS XML User guide for Tax…![Cayman DITC Portal Open](/sites/default/files/2022-11/15.png)
Cayman DITC Portal Open
By: Eugenie Meijer, Director of Support and Training for CRS/FATCA One. The long waited DITC Portal was finally opened…![CRS Reporting – What are the hidden perils on Hong Kong’s Financial Institutions?](/sites/default/files/2022-11/14.png)
CRS Reporting – What are the hidden perils on Hong…
By: Marco Zawar. MBA/LL.M On September 30, 2020, the Inland Revenue Department (“IRD”) released updates on their AEOI…![The OECD’s Common Reporting Standard (CRS): how standard is it?](/sites/default/files/2022-11/13.png)
The OECD’s Common Reporting Standard (CRS): how st…
By: Eugenie Meijer, Director of Support and Training for CRS/FATCA One. So, what is Common and what is Standard? Well…![The OECD Common Transmission System](/sites/default/files/2022-11/12.png)
The OECD Common Transmission System
By: Dave Olenzak. President and Founder of TWC. The OECD created the Common Transmission System (CTS) to exchange CRS…![FATCA TIN Reporting Requirements TIN Relief](/sites/default/files/2022-11/11.png)
FATCA TIN Reporting Requirements TIN Relief
By: Dave Olenzak. President and Founder of TWC. Prior to FATCA and CRS, the collection of a Tax ID number was not…![<Nationality> caught up in a lack of communication between US FATCA and CRS design groups?](/sites/default/files/2022-11/10.png)
<Nationality> caught up in a lack of communi…
By: Dave Olenzak. President and Founder of TWC. The Nationality XML element seems to have been caught up in a lack of…![IRS IDES Test Period Opens and FATCA Deadlines are Extended due to COVID-19](/sites/default/files/2022-11/9.png)
IRS IDES Test Period Opens and FATCA Deadlines are…
By: Dave Olenzak. President and Founder of TWC. The IRS has opened a test period from August 3, 2020 through September…![Model 1 extension isn’t automatic](/sites/default/files/2022-11/8.png)
Model 1 extension isn’t automatic
By: Dave Olenzak. President and Founder of TWC. Note that the Model 1 extension isn’t automatic. It simply gives Tax…![Information for Financial Institutions](/sites/default/files/2022-11/7.png)
Information for Financial Institutions
By Dave Olenzak. President and Founder of TWC. With a few exceptions, Model 2 and non-IGA Foreign Financial…![An introduction to CRS/FATCA One](/sites/default/files/2022-11/Blog%20Thumbnail%20Webpage%20%287%29.png)