Is the OECD Asking Lawyers to Violate U.S. Laws?
On March 9, 2017, the Organization for Economic Cooperation and Development (OECD) issued new model disclosure rules that require...
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Elizabeth A. McMorrow
- Mar 8, 2018
CRS & FATCA Record-Keeping Clock
It is clear that you must retain records under FATCA and CRS but for how long and when does the clock start ticking? Taking the most...
Elizabeth A. McMorrow
- Feb 13, 2018
CRS: Singapore’s Updated Portal & Reportable Jurisdictions
The Singapore tax authority (Inland Revenue Authority of Singapore (IRAS)) announced that it has updated the services available in its...
Elizabeth A. McMorrow
- Dec 28, 2017
What Is a Foreign Grantor Trust?
A trust is established in a U.S. jurisdiction such as South Dakota and a South Dakota trustee is appointed. How could this trust be...
Elizabeth A. McMorrow
- Oct 29, 2017
New Training
Please see my new training programs page on my site. The programs cut across my specialties in: Managing legal issues in foreign...
Elizabeth A. McMorrow
- Oct 13, 2017
CRS: Cayman Islands & Brazil Time to Plan for 2018 Expanded Reporting
CRS placed a tremendous burden on financial institutions (FIs) during the 2017 reporting season. This burden will only increase during...
Elizabeth A. McMorrow
- Aug 17, 2017
FATCA & CRS: Perfect Reporting Process But Still Non-Compliant
Reporting is almost over and you can take a breath. You followed FATCA, IGA, CDOT and CRS requirements in your reporting and due...
Elizabeth A. McMorrow
- Aug 15, 2017
CRS: BVI Extends Reporting Deadline to September 1
The British Virgin Islands tax authority announced that it has extended the deadline for UK FATCA/CDOT and Common Reporting Standard...
Elizabeth A. McMorrow
- Jul 28, 2017
FATCA: Mauritius Reporting Deadline Extended
The Mauritius Revenue Authority (MRA) announced that it has decided to extend the due date for the transmission of FATCA information to...
Elizabeth A. McMorrow
- Jul 25, 2017
FATCA & CRS: Don’t Forget to Deregister
If you sold, liquidated or otherwise terminated a Reporting Financial Institution (FI) prior to January 1 of this year, you may need to...
Elizabeth A. McMorrow
- Jul 21, 2017
FATCA & CRS: Caymans Extends Reporting Date to August 31
The Cayman Islands announced that the reporting deadline for FATCA and CRS has been extended to August 31, 2017. This will be the final...
Elizabeth A. McMorrow
- Jul 5, 2017
CRS: Bahamas Changes from Narrow to Wider Approach
The Bahamas tax authority recently announced that it no longer plans to follow the narrow approach in CRS compliance. It will instead...
Elizabeth A. McMorrow
- Jun 23, 2017
CRS & FATCA: Cayman Extends Registration Deadline
The Cayman Islands announced yesterday that it extended the deadline for Financial Institutions (FIs) to register in the Cayman Islands...
Elizabeth A. McMorrow
- Jun 21, 2017
CRS: Hong Kong Significantly Expands List of Reportable Jurisdictions
Hong Kong is ahead of many other jurisdictions committed to CRS reporting in 2018. It has already completed implementation legislation,...
Elizabeth A. McMorrow
- Jun 6, 2017
CRS: Anti-Avoidance & The Disgruntled Employee
Are you thinking that you have created an ingenious reporting avoidance scheme that no one can detect? Two words: disgruntled employee. ...
Elizabeth A. McMorrow
- May 22, 2017
Cayman Portal Open for Registrations
The Cayman tax authority announced on Friday that the Cayman AEOI portal is now open for FATCA and CRS entity registrations. For...
Elizabeth A. McMorrow
- Apr 19, 2017
Cayman FATCA & CRS Deadlines Matched Up
The Cayman Islands tax authority (TIA) issued an update for FATCA/CRS registration/notification and reporting. For assistance, please...
Elizabeth A. McMorrow
- Mar 23, 2017
CRS: Hong Kong, Bahamas Take Optional & Narrow Approach
There has been much discussion regarding the Common Reporting Standard’s (CRS) “wider approach” to due diligence and reporting but what...
Elizabeth A. McMorrow
- Mar 9, 2017
Cayman Islands CRS Notification & Reporting Deadline Extended
The Cayman Department for International Tax Cooperation (DITC) issued an industry advisory extending the dates for Common Reporting...
Elizabeth A. McMorrow
- Feb 28, 2017
CRS: What Does Controlling Person Mean for the Unsuspecting Executive?
It may be startling for a headquarters executive or regional sales director to be asked to provide photocopies of every page in their...
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