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Tag: CARF
Hidden risks driving FATCA and CRS reporting failures
Financial institutions continue to underestimate how frequently they breach global tax reporting rules, with many falling short of their obligations under FATCA and CRS...
The hidden cost of offshore funds in 2025
For years, offshore jurisdictions like the Cayman Islands, the British Virgin Islands (BVI), and Luxembourg were synonymous with speed, privacy, and tax efficiency.
These structures...
Turning tax remediation into a compliance advantage
Financial institutions are being urged to take a fresh look at how they handle tax form remediation, with the upcoming CRS 2.0 rules set...
Stay compliant by mastering tax form sunset periods
In the world of tax compliance, staying current isn't just best practice—it’s a necessity. Among the various timing issues that compliance teams face, understanding...
Navigating the new era: Understanding the IRS’s final digital asset regulations
On June 28, 2024, the IRS released the much-anticipated final regulations for digital asset brokers, providing detailed guidance for reporting sales and exchanges of digital assets.
Enhanced reporting and audit powers: A deep dive into Canada’s federal...
On 16 April 2024, Chrystia Freeland, deputy prime minister and federal finance minister, unveiled the Canadian Federal Budget for 2024-2025. This budget introduces pivotal tax measures, particularly focusing on the implementation of the Crypto-Asset Reporting Framework (CARF) and modifications to the Common Reporting Standard (CRS), which are set to be enforced from 2026.
