The CRS and its impact on the financial services industry

October 27, 2015

The combatting of cross-border tax evasion is a priority for governments and the automatic exchange of taxpayer information between countries is now seen as fundamental to addressing it. It is out of this objective that the Common Reporting Standard (CRS), which facilitates the automatic exchange of information (AEoI) at a global level, has evolved. Mariano Giralt, Chris Mitchell and Bronwen Noble of BNY Mellon assess the impact of these initiatives on the financial services industry.

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

more across site & bottom lb ros

More from across our site

Direct Tax

Senator blasts PwC over inquiry conduct amid fresh scandal revelations

US partner Matthew Chen was named as potentially the first overseas PwC staffer implicated in the tax leaks scandal, in a dramatic week for the ‘big four’ firm

Tom Ravlic, November 22, 2024

Direct Tax

Oslo, Norway - 24 September 2022: PricewaterhouseCoopers or PWC

This week in tax: Ex-PwC partner hits out at firm amid legal battle

PwC alleged it has suffered identifiable loss and damage arising out of a former partner's unauthorised use of confidential information; in other news, Forvis Mazars unveiled its next UK CEO

Sam Sholli, November 22, 2024

Indirect Tax

Average global tax revenues flat but VAT takings rise: OECD

Luxembourg saw the highest increase in tax-to-GDP ratio out of OECD countries in 2023, according to the organisation’s new Revenue Statistics report

Tom Baker, November 21, 2024

Direct Tax

Five minutes with…Suzanne den Breems, Ryan

Ryan’s VAT practice leader for Europe tells ITR about promoting kindness, playing the violincello and why tax being boring is a ‘ridiculous’ idea

November 21, 2024

Direct Tax

Eyeglasses and calculator close-up and tired accountant woman making marks in paper documents with modern laptop sitting background next bright daylight window. Business, home finances money savings

Overcoming pillar two preparation fatigue

Technology is on the way to relieve tax advisers tired by onerous pillar two preparations, says Russell Gammon of Tax Systems

Russell Gammon, November 20, 2024

Transfer Pricing

OECD statistics for Italy show TP dispute proactiveness: experts

A high number of granted APAs demonstrates the Italian tax authorities' commitment to resolving TP issues proactively, experts say

Sam Sholli, November 20, 2024

Direct Tax

Valletta, Malta: skyline from Marsans Harbour at sunset

IMF recommends Malta speeds up pillar two implementation

Malta risks ceding tax revenues to jurisdictions that adopt the global minimum tax sooner, the IMF said

Tom Baker, November 19, 2024

Direct Tax

$492bn lost in tax revenues to havens each year: report

The UK and what has been dubbed its ‘second empire’ have been found to be responsible for 26% of all countries’ tax losses by the Tax Justice Network

Sam Sholli, November 19, 2024

Direct Tax

Potential Trump corporate tax rate cut could threaten Ireland: experts

Ireland offers more than just its competitive corporate tax environment but a reduction in the US rate under a Trump administration could affect the country, experts tell ITR

Sam Sholli, November 18, 2024

Direct Tax

PwC Australia barred from government contracts for further six months

The ‘big four’ firm was originally prohibited from tendering for government work until December 1 due to its tax leaks scandal, but ongoing investigations into the matter have seen the date extended

Tom Ravlic, November 18, 2024