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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…

Breakfast in Chile: Compliance, CRS and FATCA

Trans World Compliance, together with Mena Alessandri & Asociados/ 360ºmfo and Plataforma.legal, hosted the…

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 wi…

By: Trans World Compliance The Israeli Tax Authority received information about hundreds of Israeli bank accounts…

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

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:…

By: Trans World Compliance The OECD released a new global tax transparency framework that facilitates the reporting…

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

By: Trans World Compliance   Regulatory compliance is a broad term that describes an organization’s efforts to…

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

The Council of the European Union met on Monday and has since released the conclusions it adopted on the revised EU…

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

By: Dave Olenzak. President and Founder of TWC. In March, 2021 the OECD’s data exchange mechanism, the Common…

"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 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?

By: Dave Olenzak. President and Founder of TWC. The EU Black List is based on three criteria:  Transparency, Fair Tax…

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

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 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

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…

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 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

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

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 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…

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

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

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

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