The differences between FATCA and CRS

September 10, 2015
hpride

My son came to me the other day and asked me why a cat is not a dog.  As we began to discuss the differences, however, we realised the two were not at all the same. The same can apply in the tax world. Take the Foreign Account Tax Compliance Act (FATCA) and the Common Standard on Reporting and Due Diligence for Financial Account Information (CRS), for example. They may have similar characteristics, but the two cannot be treated in the same way.   Full article in the Economia.

 

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