Blog

Image from the EU Council

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 list of non-cooperative jurisdictions for tax purposes.

Amongst the…

CRS FATCA Question time

Question Time

Question Time section from Trans World Compliance. Test your CRS and FATCA knowledge with a new question each week. Find here all the questions that were asked on our social media…

Image from Trans World Compliance

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 Transmission System (CTS), will move from 1.0 to 2.0.  As part of that…

Image from Inspire Tax Consultants

"Economic Substance" tests

By: Dave Olenzak. President and Founder of TWC.

The OECD’s Forum on Harmful Tax Practices has developed under the Base Erosion and Profit Shifting (BEPS) Action Item #5 on Harmful Tax…

Image from Trans World Compliance

What is the Common Transmission System (CTS) and how does it affect me?

By: Dave Olenzak. President and Founder of TWC.

The CTS is run by the OECD and is used to exchange Common Reporting Standard and was developed to exchange Common Reporting Standard (CRS…

Image from Nationwide 90FM

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 Competition, and BEPS Implementation.  

BEPS (Base Erosion…

Image from PlanetWare

Bahamas and Blacklisting

By: Dave Olenzak. President and Founder of TWC.

According to the Tribune…

Irs photo

Responsible Office Reporting

By Dave Olenzak. President and Founder of TWC.

The IRS FATCA certification requires Periodical Certification of all Financial Institutions that are in countries that are either Model 2…

User guide transition

CRS Reporting 2021 - are you ready to meet the challenges?

By: Marco Zawar. MBA/LL.M

Introduction

In June 2019 the OECD released Version 3.0 of their…

Cayman

Cayman DITC Portal Open

By: Eugenie Meijer, Director of Support and Training for CRS/FATCA One.

The long waited DITC Portal was finally opened on Sunday November the 8th…

Image from The Economist

The OECD’s Common Reporting Standard (CRS): how standard is it?

By: Eugenie Meijer, Director of Support and Training for CRS/FATCA One.

So, what is Common and what is Standard? Well, according to Merriam Webster: 
The…

CTS System

The OECD Common Transmission System

By: Dave Olenzak. President and Founder of TWC.

The OECD created the Common Transmission System (CTS) to exchange CRS data.  The CTS system is not a…

Banner

FATCA TIN Reporting Requirements TIN Relief

By: Dave Olenzak. President and Founder of TWC.

Banner

<Nationality> caught up in a lack of communication between US FATCA and CRS design groups?

By: Dave Olenzak. President and Founder of TWC.

The Nationality XML element seems to have been…

Coronavirus on world

IRS IDES Test Period Opens and FATCA Deadlines are Extended due to COVID-19

By: Dave Olenzak. President and Founder of TWC.

The IRS has opened a test period from August 3, 2020 through September 30, 2020 for their FATCA reporting systems called…

Banner

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 Authorities the ability to push their own deadlines farther out in…

Banner

Information for Financial Institutions

By Dave Olenzak. President and Founder of TWC.

With a few exceptions, Model 2 and non-IGA Foreign Financial Institutions should take notice that they must have completed a Certification…

CRS/FATCA One

An Introduction to CRS/FATCA One

To View the Video Click Here

Image from the EU Council

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 list of non-cooperative jurisdictions for tax purposes.

Amongst the…

CRS FATCA Question time

Question Time

Question Time section from Trans World Compliance. Test your CRS and FATCA knowledge with a new question each week. Find here all the questions that were asked on our social media…

Image from Trans World Compliance

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 Transmission System (CTS), will move from 1.0 to 2.0.  As part of that…

Image from Inspire Tax Consultants

"Economic Substance" tests

By: Dave Olenzak. President and Founder of TWC.

The OECD’s Forum on Harmful Tax Practices has developed under the Base Erosion and Profit Shifting (BEPS) Action Item #5 on Harmful Tax…

Image from Trans World Compliance

What is the Common Transmission System (CTS) and how does it affect me?

By: Dave Olenzak. President and Founder of TWC.

The CTS is run by the OECD and is used to exchange Common Reporting Standard and was developed to exchange Common Reporting Standard (CRS…

Image from Nationwide 90FM

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 Competition, and BEPS Implementation.  

BEPS (Base Erosion…

Image from PlanetWare

Bahamas and Blacklisting

By: Dave Olenzak. President and Founder of TWC.

According to the Tribune…

Irs photo

Responsible Office Reporting

By Dave Olenzak. President and Founder of TWC.

The IRS FATCA certification requires Periodical Certification of all Financial Institutions that are in countries that are either Model 2…

User guide transition

CRS Reporting 2021 - are you ready to meet the challenges?

By: Marco Zawar. MBA/LL.M

Introduction

In June 2019 the OECD released Version 3.0 of their…

Cayman

Cayman DITC Portal Open

By: Eugenie Meijer, Director of Support and Training for CRS/FATCA One.

The long waited DITC Portal was finally opened on Sunday November the 8th…

Image from The Economist

The OECD’s Common Reporting Standard (CRS): how standard is it?

By: Eugenie Meijer, Director of Support and Training for CRS/FATCA One.

So, what is Common and what is Standard? Well, according to Merriam Webster: 
The…

CTS System

The OECD Common Transmission System

By: Dave Olenzak. President and Founder of TWC.

The OECD created the Common Transmission System (CTS) to exchange CRS data.  The CTS system is not a…

Banner

FATCA TIN Reporting Requirements TIN Relief

By: Dave Olenzak. President and Founder of TWC.

Banner

<Nationality> caught up in a lack of communication between US FATCA and CRS design groups?

By: Dave Olenzak. President and Founder of TWC.

The Nationality XML element seems to have been…

Coronavirus on world

IRS IDES Test Period Opens and FATCA Deadlines are Extended due to COVID-19

By: Dave Olenzak. President and Founder of TWC.

The IRS has opened a test period from August 3, 2020 through September 30, 2020 for their FATCA reporting systems called…

Banner

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 Authorities the ability to push their own deadlines farther out in…

Banner

Information for Financial Institutions

By Dave Olenzak. President and Founder of TWC.

With a few exceptions, Model 2 and non-IGA Foreign Financial Institutions should take notice that they must have completed a Certification…

CRS/FATCA One

An Introduction to CRS/FATCA One

To View the Video Click Here