Common Reporting Standard

Flexible legal regulations introduced during COVID pandemic benefit multinationals in 2022

Retrieved on: 
Thursday, October 13, 2022
Consulting, Data Management, Technology, Professional Services, Other Technology, Software, Other Professional Services, Fintech, Mobile, Wireless, Human Resources, Finance, Time, Culture, EPM, Mission statement, Efficiency, Bermuda, Common, Implied level of government service, COVID, NCT 2020 Resonance Pt. 1, BPO, Common Reporting Standard, Mercator, Industry, Environment, Telecommuting, Pharmaceutical industry, Audit, Citco, EU

More flexible company regulations introduced to fit Working From Home arrangements during the COVID pandemic took effect over the past year as multinationals used digitized processes to work faster and reduce the costs of managing their legal entities according to data compiled by Entity Portfolio Management (EPM) leader Mercator by Citco (Mercator), in its annual Mercator Entity Management Report 2022.

Key Points: 
  • More flexible company regulations introduced to fit Working From Home arrangements during the COVID pandemic took effect over the past year as multinationals used digitized processes to work faster and reduce the costs of managing their legal entities according to data compiled by Entity Portfolio Management (EPM) leader Mercator by Citco (Mercator), in its annual Mercator Entity Management Report 2022.
  • APAC remains the quickest region to operate as it had already implemented many of these digital processes prior to the COVID pandemic and refined them further since last year.
  • Overall, multinationals were able to reduce the time spent on managing their entities over the past year by almost a fifth (17%) in this new digital landscape.
  • Kariem Abdellatif, Head of Mercator said: The global management of a multinationals entities has never been more important as in-house legal and corporate secretarial teams work in a challenging environment where regulations change constantly.

USA Ranked One of the Cheapest Countries for Multinational Legal Entities

Retrieved on: 
Thursday, July 7, 2022
Professional Services, Other Professional Services, Legal, Technology, Software, Efficiency, Documentation, Citco, Report, Adoption, Common, Industry, Record, EPM, Culture, BPO, Implied level of government service, Time, Board, Management, Common Reporting Standard, Fine chemical, Audit, Insurance, Bank, Mercator

The USA has been ranked as one of the cheapest and fastest countries among 170 jurisdictions worldwide for incorporating and managing the USA-based entities of multinationals, according to data compiled by the entity portfolio management (EPM) leader Mercator by Citco , in its USA Special Report .

Key Points: 
  • The USA has been ranked as one of the cheapest and fastest countries among 170 jurisdictions worldwide for incorporating and managing the USA-based entities of multinationals, according to data compiled by the entity portfolio management (EPM) leader Mercator by Citco , in its USA Special Report .
  • The time needed to complete key tasks in the management of the USA-based entities of multinationals is also significantly shorter than other jurisdictions by 50% on average.
  • The USA is also considered an attractive market due to the overall easier regulations for non-listed entities; in particular, many entities are incorporated in Delaware, where regulations provide additional flexibility for corporations.
  • It may also serve as a useful data-based resource in setting up new USA entities in corporate structures.

European e-Cigarettes, Parts and e-Liquids Market Tax Regulation Report 2022 - ResearchAndMarkets.com

Retrieved on: 
Monday, January 24, 2022
Tobacco, Retail, Common Reporting Standard, Tax, VAT, Nicotine, Region (Europe), Tobacco, EU, Assembly of European Regions

The "Tax regulation for E-cigarettes, parts and e-liquids in European Region" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Tax regulation for E-cigarettes, parts and e-liquids in European Region" report has been added to ResearchAndMarkets.com's offering.
  • This tax regulatory report provides detailed analysis and comparison of existing tax systems in each country of the European Region relatively to E-cigarettes, their parts and bottled E-liquid.
  • This Report will be useful for existing and new brands, manufacturers, distributors and market analysts engaged in E-cigarette business in the European Region.
  • In the report, sales, excise and special taxes and calculated tax burden for different categories of vaping products are reviewed.

New Report: Cayman Islands Enhances Global Innovation and Economic Development Without Tax Harm

Retrieved on: 
Wednesday, October 13, 2021
Banking, Accounting, Professional Services, Finance, Lists of countries and territories, BEPS, UNCTAD, Publication, Finance, Télé-Québec, OECD, CRS, Adoption, Review, Common, Common Reporting Standard, International, IMF, Director of National Parks, FATF, CEO, Cayman Islands, Compliance, Research, Tax, OECD Guidelines for Multinational Enterprises, Renewable energy, Financial services, Security (finance)

This new report has been commissioned by Cayman Finance to help clarify how the Cayman Islands has successfully combined all of these attributes with others that make it unique to international investors, to help drive the international economy and facilitate global economic growth.

Key Points: 
  • This new report has been commissioned by Cayman Finance to help clarify how the Cayman Islands has successfully combined all of these attributes with others that make it unique to international investors, to help drive the international economy and facilitate global economic growth.
  • This report documents how the Cayman Islands pure tax neutrality and commitment to good governance enable investors to pool capital securely and transparently and pursue investment opportunities that drive economic growth, create jobs and generate tax revenue in countries around the world, said Jude Scott, the CEO of Cayman Finance.
  • Key findings include:
    CIVs and MNEs choose to domicile entities in Cayman rather than in other jurisdictions because Cayman offers pure tax neutrality at minimal cost in a well-regulated legal environment.
  • A Cayman: Engine of Growth and Good Governance was authored by leading economist Julian Morris and is available, along with other Cayman Finance reports, at www.caymanfinance.ky .

Mazars Names Eight New Partners & Principals in the US, Continuing the Firm's Growth Across All Practice Segments

Retrieved on: 
Monday, October 4, 2021
Trump v. Mazars USA, LLP, Curriculum, LLP, M&D, AEP, Compliance, Education, Food, Foreign Account Tax Compliance Act, National Association, Common, SOX, Privacy, Culture, Character, Multimedia, Real estate, SOC, Chinese Estates Group, Tax Cuts and Jobs Act of 2017, Board, Financial services, Common Reporting Standard, Principal, Accounting, CEO, Knowledge, Growth, ATLAS, Risk, Melissa, Estate, ITGC, OECD, Industry, Tax, Retail

John provides attest and advisory services primarily in the real estate and financial services industries for both public and private companies.

Key Points: 
  • John provides attest and advisory services primarily in the real estate and financial services industries for both public and private companies.
  • Timothy Evans has been part of Mazars' Tax Practice, focused on Financial Services, for over 8 years.
  • He has a track record of delivering technical excellence, as well as building and growing local and international client relationships.
  • Mazars USA LLP is an independent member firm of Mazars Group, an international audit, tax and advisory organization with operations in over 90 countries.

1099 Pro Software Simplifies Reporting for Tax Year 2020

Retrieved on: 
Tuesday, October 20, 2020
International taxation, Tax, Form, Articles, Economy, Foreign Account Tax Compliance Act, Taxation in the United States, Common Reporting Standard, AEOI

The biggest change for 1099 Pro's Tax Year 2020 1099 software is the introduction of Form 1099-NEC Nonemployee Compensation.

Key Points: 
  • The biggest change for 1099 Pro's Tax Year 2020 1099 software is the introduction of Form 1099-NEC Nonemployee Compensation.
  • Both 1099 Pro's 1099 software and W-2 software feature a complete suite of features that are un-matched in the industry.
  • Since 1989, 1099 Pro, Inc. has produced industry-leading tax reporting software for 1099 informational returns, W-2, 1042-S, ACA 1095, and FATCA 8966 forms.
  • 1099 Pro, Inc. also supports the Common Reporting Standard for AEOI reporting via CRS Pro software.

CRS & FATCA Compliance & Reporting (London, United Kingdom - March 27, 2020) - ResearchAndMarkets.com

Retrieved on: 
Monday, January 27, 2020
Training, Education, International taxation, Tax, Economy, World economy, Foreign Account Tax Compliance Act, Common Reporting Standard, AEOI

The "CRS & FATCA Compliance & Reporting" training has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "CRS & FATCA Compliance & Reporting" training has been added to ResearchAndMarkets.com's offering.
  • In February 2014, G20 finance ministers and governors endorsed the CRS as the new global standard for the Automatic Exchange of Information (AEoI).
  • CRS employed a bigger part of the existing FATCA model but with a far ambitious reach.
  • Conducted by a practitioner who worked on FATCA and CRS implementation projects at some of the major institutions the course provides real-life examples and case studies.

Standard Chartered Bank successfully launches application of BearingPoint's tax reporting solution worldwide

Retrieved on: 
Wednesday, October 9, 2019
Technology, Finance, Banking, Professional services, Software, Data management, Other Professional Services, International taxation, Financial regulation, Economy, Regulatory technology, Foreign Account Tax Compliance Act, Common Reporting Standard, Articles, Reporting, BearingPoint

BearingPoint RegTech, a leading international provider of innovative regulatory and risk technology solutions (RegTech and RiskTech), announced that Standard Chartered Bank has successfully deployed the tax reporting solution FiTAX to fulfill its global reporting obligations.

Key Points: 
  • BearingPoint RegTech, a leading international provider of innovative regulatory and risk technology solutions (RegTech and RiskTech), announced that Standard Chartered Bank has successfully deployed the tax reporting solution FiTAX to fulfill its global reporting obligations.
  • These include CRS (Common Reporting Standard), FATCA (Foreign Account Tax Compliance Act) and QI (Qualified Intermediaries) reporting.
  • To tackle the challenges of efficient, high-quality tax reporting across multiple countries, Standard Chartered selected BearingPoint in 2018 as provider of a single integrated reporting solution.
  • The implementation project started in 2018 when CRS, FATCA and QI reporting logic, modules and templates for 63 countries were delivered to Standard Chartered Bank.

1099 Pro Releases 1099 Software For Tax Year 2019

Retrieved on: 
Tuesday, August 27, 2019
Tax, Taxation in the United States, International taxation, Form, IRS tax forms, Foreign Account Tax Compliance Act, Common Reporting Standard, Internal Revenue Service, Form 1099-MISC, Form 1099-K

Outsource any number of forms to our SOC I TYPE II secured Service Bureau

Key Points: 
  • Outsource any number of forms to our SOC I TYPE II secured Service Bureau
    1099 Pro 2019 1099 software is available for immediate download and reflects IRS 2019 updated tax forms, instructions and business rule validations.
  • With 1099 Pro's 2019 1099 software , users can quickly generate a Bulk TIN Upload for processing by the 1099 Pro Service Bureau.
  • - Since 1999, 1099 Pro, Inc. has produced industry-leading tax reporting software for 1099 Informational Returns, W-2, 1042-S, ACA 1095, and FATCA 8966 forms.
  • 1099 Pro, Inc. also supports the Common Reporting Standard for AEOI reporting via CRS Pro software.

Top International Bank Extends Cooperation With SDS IREG Global Tax Reporting Solution

Retrieved on: 
Monday, August 26, 2019
International taxation, Foreign Account Tax Compliance Act, Economy, Common Reporting Standard, AEOI, Reporting, Articles

VIENNA, Aug. 26, 2019 /PRNewswire/ -- SDS is happy to announce that one of its international customers decided to engage with SDS IREG, the global solution for FATCA, CRS and QI reporting, for another 3 years.

Key Points: 
  • VIENNA, Aug. 26, 2019 /PRNewswire/ -- SDS is happy to announce that one of its international customers decided to engage with SDS IREG, the global solution for FATCA, CRS and QI reporting, for another 3 years.
  • Cost-friendly operations with having one single instance for servicing multiple (up to more than 1,000) CIs and upmost reliability adds to the acceptance of SDS IREG with all stakeholders of the top international bank.
  • With SDS IREG, originally launched in 2011, the company also became one of the key global players in the market for end-to-end and fully automated tax reporting solutions.
  • SDS IREGs specific design for the Automatic Exchange of Information (AEOI) using the highest degree of automation and international tax reporting compliance in one single application improves the tax reporting capabilities of international financial institutions and service providers.