Physical classroom Courses

The FATCA regulation, approved in March 2010, includes a series of anti-tax avoidance provisions that, by expanding the disclosure requirements for non-US financial institutions (including investment funds) that directly or indirectly hold investments in the US, are designed to target US citizens who use foreign vehicles to conceal their income. The CRS regime, as discussed at the 2013 G20 summit, requires all financial institutions to implement due diligence procedures for both existing and new clients, in order to properly identify counterparties, particularly the beneficial owner. Furthermore, this information must be regularly provided to the competent tax authority, which will be required to exchange it with persons with equal authority in other countries.