Elizabeth A. McMorrowApr 14, 2017FATCA: Indian Financial Institutions Permitted to Block AccountsIndiaâs Central Board of Direct Taxes (CBDT) issued an update regarding the US-India FATCA IGA. India and the USA entered into a Model 1...
Elizabeth A. McMorrowApr 12, 2017Mandatory Registration Renewal for FFI AgreementAll Foreign Financial Institutions (FFIs) that have entered into an FFI Agreement with the US Internal Revenue Service (IRS) must renew...
Elizabeth A. McMorrowApr 3, 2017Singapore Released Its FATCA Reporting Nil Paper FormSingapore released its FATCA reporting nil paper form today. The Inland Revenue Authority of Singapore (IRAS) requires nil reporting...
Elizabeth A. McMorrowMar 9, 2017Cayman Islands CRS Notification & Reporting Deadline ExtendedThe Cayman Department for International Tax Cooperation (DITC) issued an industry advisory extending the dates for Common Reporting...
Elizabeth A. McMorrowFeb 28, 2017CRS: 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...
Elizabeth A. McMorrowFeb 17, 2017Where FATCA and Biotech Compliance CoincideIn my practice, I represent clients in the financial industry (FATCA/CRS) and in the biotech industry (legal management of foreign...
Elizabeth A. McMorrowJan 31, 2017CRS: Cayman, India, Mauritius Take Wider ApproachThe Cayman Islands, India, Mauritius and the majority of other jurisdictions participating in the Standard for Automatic Exchange of...
Elizabeth A. McMorrowJan 12, 2017CRS: New Cayman Criminal SanctionsRecently released Cayman Islands Common Reporting Standard (CRS) Regulations added significant criminal enforcement sections which...
Elizabeth A. McMorrowDec 30, 2016New CRS Rule: Non-Reporting FIs Must Register in Cayman AEOI PortalThe Cayman Islands issued The Tax Information Authority (International Tax Compliance) (Common Reporting Standard) (Amendment)...
Elizabeth A. McMorrowDec 22, 2016FATCA: Limited Conditional Status Terminates on January 1, 2017To provide a bridge between the start of FATCA and the time necessary for jurisdictions to enter into Intergovernmental Agreements (IGAs)...
Elizabeth A. McMorrowNov 16, 2016The Sleep Deprived Cow and the Importance of Corruption Risk ResearchHave you heard the story about the ex-pat driving home along a European country road who hit a telephone pole? How about the part of the...
Elizabeth A. McMorrowOct 28, 2016IRS Pushes Out Date to Use New W-8BEN-EIn April 2016, the IRS released a new Form W-8BEN-E. Ordinarily, the old 2014 Form W-8BEN-E would be permitted to be used for six months...
Elizabeth A. McMorrowOct 11, 2016Double Up on Notifications Re:Taxation on Overseas AssetsPursuant to local CRS and FATCA implementation, certain jurisdictions such as the United Kingdom require that Reporting Financial...
Elizabeth A. McMorrowOct 4, 2016Sponsored Entity Registration ProcrastinationThe IRS requires that some sponsoring entities register their sponsored entities for their own Global Intermediary Identification Numbers...
Elizabeth A. McMorrowSep 13, 2016Mandatory Use of 2016 Form W-8BEN-E Coming Down the PikeIn April 2016, the IRS released a new Form W-8BEN-E. The old 2014 Form W-8BEN-E is permitted to be used for six months subsequent to the...
Elizabeth A. McMorrowSep 1, 2016India Prohibits FATCA Account ClosuresIndia and the USA entered into a Model 1 IGA for implementation of FATCA on 31st August, 2015. As part of the IGA implementation, Indiaâs...
