Tax & Accounting Blog

U.K. Parliament Holds Emergency Debate on Public Country-by-Country Reporting

U.K. Parliament Holds Emergency Debate on Public Country-by-Country Reporting

On November 14, 2017, the U.K. House of Commons held an emergency debate on tax avoidance and evasion ahead of Chancellor Philip Hammond’s finalization of the Budget. During the debate, members emphasized the need for public country-by-country (CbC) reporting following the release of the Paradise Papers. See BEPS Action 13. According to Dame … Read More

How the Common Reporting Standard (CRS) and Global Trends are Affecting Financial Institutions’ Use of Technology

How the Common Reporting Standard (CRS) and Global Trends are Affecting Financial Institutions’ Use of Technology

The drive for global tax transparency continues to gain speed while financial institutions (FIs) also grapple with emerging disruptive financial technology innovations and growing threats to data security. Building on the U.S.-led FATCA regulations, the first wave of reporting for the OECD-led initiative, the CRS, includes 49 jurisdictions undertaking the first exchange of financial information … Read More