FATCA and CRS

FATCA is an act enacted in 2010 by US to track the tax evaders residing not only in US but all over the world.

Financial Institutions (FI) have to obtain a FATCA / CRS form where they have to provide the number of countries having tax obligation along with TIN number.

FI in turn has to pass on the information to the regulator who will share with IRS.

Common Reporting Standards (CRS) apllies to countries other than US to track the tax evasion. More than 100 countries are members of CRS.

Do you want to train in MF operations, please contact 93074 71908.

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