Financial institutions adapt to tax transparency

January 28, 2019

feb 19

Tax transparency initiatives such as the CRS, AEOI and FATCA, and the upcoming mandatory disclosure rules, are having a profound impact on the operations and IT infrastructure of financial institutions (FIs) worldwide. Ronald Frey, chief product officer of the RegTech product unit within BearingPoint, discusses how these are creating trends towards data alignment and centralisation, and are changing the role of FIs and wealth managers in cross-border tax reporting.

Unlock this content.

The content you are trying to view is exclusive to our subscribers.

To unlock this content:

Take a Free Trial or Login

Topics

Poland Portugal Philippines Qatar United States Oman Paraguay Peru Pakistan Panama Slovenia Armenia South Africa Singapore Antigua and Barbuda Argentina Slovak Republic Australia Romania Albania Russia Angola Serbia Algeria San Marino Saudi Arabia Andorra Monaco Mauritius Mexico Morocco Mongolia Montenegro Malta Malaysia Nigeria Netherlands Antilles New Zealand Feature Norway Myanmar Netherlands Mozambique Latvia Kuwait Laos Lithuania Luxembourg Lebanon Liechtenstein Kenya Kosovo Israel Italy Isle of Man Jersey Jordan Jamaica Japan Kazakhstan Global North Macedonia Gibraltar Greece Georgia Germany Guernsey Gulf Cooperation Council Greenland Guatemala Honduras Hong Kong SAR India Indonesia Hungary Iceland Ireland Iran Iraq Cuba Curaçao Chile Direct Tax Chad Costa Rica Croatia China Colombia Compliance Management France Denmark Ecuador Cyprus Czech Republic European Union Finland Egypt Estonia Tunisia Belize Tanzania Barbados Belgium Thailand Austria Spain Azerbaijan Sri Lanka South Korea Bahrain Switzerland Bangladesh Taiwan Sweden Bahamas Canada Venezuela Vietnam Cayman Islands Bolivia Bosnia and Herzegovina Uganda Turkey Bermuda United Arab Emirates Bulgaria Cambodia Uruguay Brazil United Kingdom Ukraine British Virgin Islands ITR Magazine February 2019 Africa Asia-Pacific Europe Latin America and Caribbean Middle East Central America Jurisdictions

more across site & bottom lb ros

More from across our site

Transfer Pricing

Happy New Year Celebration 2024 Sparkles Banner Generative AI

Editor’s picks: top ITR stories of 2024

ITR’s most interesting stories of the year covered ‘landmark’ legal battles, pillar two, AI’s relationship with transfer pricing and more

Sam Sholli, December 20, 2024

Direct Tax

clifford chance

This week in tax: Tax partner takes top London job at Clifford Chance

Chinwe Odimba-Chapman was announced as Michael Bates’ successor; in other news, a report has found a high level of BEPS compliance among OECD jurisdictions

Sam Sholli, December 20, 2024

Transfer Pricing

OECD image.jpg

OECD releases pricing automation tool for amount B

The tool, which will automatically compute amount B returns, requires “only minimal data inputs”, according to the OECD

Sam Sholli, December 19, 2024

Transfer Pricing

US proposes regulations on applying amount B

The rules are intended to implement the substance of an earlier OECD report in its entirety

Sam Sholli, December 19, 2024

Direct Tax

David Helmer and Daren Campbell EY

AI won’t replace the tax professional: EY tech leader

While new technology won’t replace the human touch, it could help relieve companies’ staffing issues, EY’s David Helmer and Daren Campbell tell ITR

Sam Sholli, December 18, 2024

Direct Tax

KPMG outstrips ‘big four’ rivals with 10% tax revenue rise

The firm said the financial growth came from increased demand for its AI services and global tax reform advice

Tom Baker, December 17, 2024

Direct Tax

chrystia freeland.jpg

Canada’s finance minister resigns amid US tariff threat

Chrystia Freeland had also been the figurehead of Canada’s controversial digital services tax adoption, which stoked economic tensions with the US

Tom Baker, December 16, 2024

Direct Tax

flores and bonilla.png

Pillar two not close in Panama or Costa Rica: experts

Panama has no official position on pillar two so far and a move to implement in Costa Rica will face rejection, experts tell ITR

Sam Sholli, December 16, 2024

Direct Tax

suresh perera resized.jpg

‘Setting a precedent’: KPMG’s Perera on his award-winning practice

The KPMG partner tells ITR about Sri Lanka’s complex and evolving tax landscape, setting legal precedents through client work, and his vision for the future of tax

Tom Baker, December 13, 2024

Direct Tax

This week in tax: Grant Thornton reports 8.9% global tax revenue growth

Overall turnover at the firm also reached a record £8 billion; in other news, Ashurst and Dentons announced senior tax partner hires

Sam Sholli, December 13, 2024