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FATCA and the Common Reporting Standard (CRS)

Wednesday 13 January 2016

 

FATCA and the Common Reporting Standard have been a major exercise for us this year.  As many of you may be aware we are now required to disclose to the USA and UK tax authorities the details of our clients’ resident in those countries.  

We will be required to disclose from 2017, clients from many more jurisdictions, who have companies or trusts operating from Jersey.  Please see link below that details the jurisdictions that have committed to reporting by 2017 under the Common Reporting Standard.

http://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/crs-by-jurisdiction/#d.en.345489

 

We therefore suggest that you ensure your personal tax affairs in your home country are completely up to date with regard to your Jersey Company and/or Trust.