Self compliance done right for RFIs

Compliance and KYC accuracy to prepare an RFIs for all future handling of compliance and KYC related questions on potential negligence.

Smruti ParidaCEO

Self compliance done right for RFIs

Compliance and KYC accuracy to prepare an RFIs for all future handling of compliance and KYC related questions on potential negligence.

16 August 2024

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3 minute read

Cross border Tax Transparency Asian Perspective OECD Report

Tax Transparency to tackle cross border and Illicit Financial transactions Asian Perspective OECD Report

26 June 2024

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5 minute read

FATCA-CRS REGULATIONS COMPLIANCE by Indian Reporting Financial Institutions – Urgent Need to Ensure Quality of Data

Reporting Financial Institutions (RFIs) in India submit Statement of Reportable Accounts (61B) to CBDT, which in turn is shared with the participating jurisdictions, by the CBDT.

2 November 2023

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3 minute read

FATCA-CRS Reporting – Challenges faced by Financial Institution in India

Foreign Accounts Tax Compliance Act (FATCA) Reporting was implemented from the calendar year ended 31st Dec 2015 In India as Inter Governmental Agreement (IGA) was signed between India and US IRS during Aug’15. Common Reporting Standard (CRS) Reporting was implemented from the calendar year 2016.

20 August 2020

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3 minute read

FATCA-CRS Compliance – Invalid TIN

As a part of Budget proposals, Government of India proposes to introduce a deemed provision that every Indian Citizen who is not liable to tax in any other country, by virtue of his/her domicile or residence, shall be deemed as a resident of India and consequently, his/her global income would be taxable in India.

19 March 2020

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2 minute read

CITIZENSHIP BY INVESTMENT – Time for Review to Help Common Reporting Standard (CRS)!!

20 February 2019

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7 minute read

FATCA AND CRS COMPLIANCE – DQR-RRC

25 January 2019

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3 minute read

GOLDEN PASSPORT FOR THE RICH… Is Citizenship Becoming a Commodity to Circumvent Common Reporting Standard (CRS)?

OECD has identified certain investment schemes promoted by some countries to enable rich people to obtain citizenship in that country without insisting on their physical presence in the country at least for a minimum period of 90 days in a year

22 November 2018

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3 minute read

FATCA – US TIN – 3 Rules to Be Followed by RFI's Under Model-1 IGA

Inter-Governmental Agreement (IGA-Model1) between India and USA, Indian Reporting Financial Institutions (RFI) have submitted data relating to the financial accounts for the calendar years ended 2015, 2016 & 2017 to Central Board of Direct Taxes(CBDT). CBDT has commenced exchange of data with USA-Internal Revenue Service (USA-IRS)

21 August 2018

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3 minute read

COMPLIANCE WITH FATCA-CRS REGULATIONS – How It Helps Financial Institutions in Tracking/Monitoring Account Holders Tax-Resident in FATF Black & Grey Listed Countries?

The Financial Action Task Force (FATF), to protect the international financial system from Money Laundering and Financing of Terrorism (ML/FT) risks.

12 July 2018

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3 minute read

CRS COMPLIANCE PROCEDURE FOR ENTITIES – Pre-Existing Accounts

Common Reporting Standard (CRS) Compliance by Financial Institutions is a statutory requirement.

26 March 2018

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3 minute read

DUE DILIGENCE FOR FATCA-CRS COMPLIANCE – Challenges for Reporting Financial Institutions and the Remedial Measures

Each country desires its residents to be tax transparent and in the process the statutory authorities introduce multiple due diligence procedures to be adopted by Financial Institutions (FI).

23 January 2018

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4 minute read

TOP 4 CHALLENGES IN FATCA-CRS Compliance in India

Reporting Financial Institutions in India are gearing up to identify reportable account holders

15 December 2017

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3 minute read

FATCA REGULATIONS – All About Blocking of Non-Compliant Account Holders

Accounts opened under the Alternate Procedure: Actually such cases refer to account holders.

21 September 2017

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4 minute read

FINANCIAL SERVICES – Technology Trends in 2016

Financial Services industry is at the cross roads of the ‘next era of digitization’ as more and technology advancements stand in queue for acceptance. Banking domain, specifically, has always been open to technology inclusions in their product, services and process activities in its quest to enhance customer experience and thus their bottom lines.

4 February 2016

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4 minute read

Finguine blog

Self compliance done right for RFIs

Self compliance done right for RFIs

Cross border Tax Transparency Asian Perspective OECD Report

FATCA-CRS REGULATIONS COMPLIANCE by Indian Reporting Financial Institutions – Urgent Need to Ensure Quality of Data

FATCA-CRS Reporting – Challenges faced by Financial Institution in India

FATCA-CRS Compliance – Invalid TIN

CITIZENSHIP BY INVESTMENT – Time for Review to Help Common Reporting Standard (CRS)!!

FATCA AND CRS COMPLIANCE – DQR-RRC

GOLDEN PASSPORT FOR THE RICH… Is Citizenship Becoming a Commodity to Circumvent Common Reporting Standard (CRS)?

FATCA – US TIN – 3 Rules to Be Followed by RFI's Under Model-1 IGA

COMPLIANCE WITH FATCA-CRS REGULATIONS – How It Helps Financial Institutions in Tracking/Monitoring Account Holders Tax-Resident in FATF Black & Grey Listed Countries?

CRS COMPLIANCE PROCEDURE FOR ENTITIES – Pre-Existing Accounts

DUE DILIGENCE FOR FATCA-CRS COMPLIANCE – Challenges for Reporting Financial Institutions and the Remedial Measures

TOP 4 CHALLENGES IN FATCA-CRS Compliance in India

FATCA REGULATIONS – All About Blocking of Non-Compliant Account Holders

FINANCIAL SERVICES – Technology Trends in 2016