FATCA & CRS compliance plays an integral role in effective corporate governance. EisnerAmper Governance works with our clients to determine the best way to meet the relevant legislative tax regimes’ requirements and make the required filings under FATCA/CRS. We provide full-service solutions and can identify, remediate, report, offer officer appointments or minimal assistance with queries related to filings.
With ever-rising obligations in context to the tax reporting assuring compliance with Common Reporting Standard (“CRS”) and Foreign Account Tax Compliance (“FATCA”) legislation in Cayman is tedious.
The impact that FATCA will have on a Cayman Islands entity fundamentally depends on whether the Cayman Islands entity is a Foreign Financial Institutions (FFI).
US FATCA obliges non-US financial institutions to report to the US Internal Revenue Service details of accounts held by US citizens or taxpayers. UK FATCA has similar regulation that demands financial institutions in the Crown Dependencies and Overseas Territories to report on accounts they hold for the benefit of UK tax residents. The FATCA regulatory regimes aim to identify those who may be evading tax in their home countries.
The CRS, a global standard for reporting such information, allows tax authorities to understand better financial assets held abroad by their residents. The US and UK FATCA legislation and the CRS are collectively perceived as Automatic Exchange of Information (AEoI).
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Isatou has been in the investment funds industry for over fifteen years and has significant regulatory experience in the area of investments and securities. Isatou oversees the EA Governance office and also acts a director on investment funds.
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