Description
Bloomsbury Publishing (UK) Automatic Exchange of Information Handbook by John Hiddleston
This title provides a commentary on the UK law and regulations relating to the exchange of information. The focus is on two main areas:i) The US Foreign Account Tax Compliance Act (FATCA) which requires UK financial institutions to provide specified details about their US account holders. ii) The OECD Common Reporting Standard (CRS) which is similar to FATCA except that typically it requires UK financial institutions to report about their non-UK account holders (or vice versa). Over 100 countries have signed up to the Common Reporting StandardThe book explains: - What the key jargon means;- How to work out the status of an organisation under these rules;- The potential penalties and other risks of non-compliance; - How to minimise those risks; - How to achieve compliance including how to carry out the required due diligence and how to make a report.It also covers other forms of international information exchange such as anti-money-laundering rules and bi-lateral double taxation treaties and looks at how the automatic exchange of information fits with GDPR.