European Parliament Library

Automatic exchange of information handbook, John Hiddleston

This work is a practical guide to the automatic exchange of information (AEOI) rules legislation within the UK. The title summarises a brief history of AEOI, the impact of Brexit, who is affected and how, due diligence requirements, as well as other issues including other forms of international information exchange such as anti-money laundering rules and bi-lateral double taxation treaties
Table Of Contents
1 How we got here - A quick look at the recent history of Automatic Exchange -- 2 The UK and Automatic Exchange today, including the impact of Brexit -- 3 An overview of FATCA and CRS -- 4 What is a reporting financial institution under FATCA/CRS? Why is it important? -- 5 What is a financial account? Why is that important? -- 6 How are different kinds of entities and persons affected by FATCA/CRS? -- 7 FATCA/CRS - Advising, assisting, looking after and dealing with clients -- 8 FATCA/CRS - What might happen to us, if we didn't comply? -- 9 FATCA/CRS - Due diligence requirements under the UK's regulations -- 10 FATCA/CRS due diligence of individual accounts -- 11 FATCA/CRS due diligence of entity accounts (including NFEs and NFFEs) -- 12 Making a report under the UK's FATCA/CRS regulations -- 13 EU DAC 6 - the EU Mandatory Disclosure regime -- 14 EU DAC 6 - Who must report? -- 15 EU DAC 6 - What must be reported, when and how? -- 16 EU DAC 6 - Other obligations -- 17 EU DAC 6 - The hallmarks -- 18 EU DAC 6 - Penalties for non-compliance -- 19 Other forms of exchange under EU DAC -- 20 HMRC's legal framework for exchange -- Appendix I - List of countries with a FATCA agreement with the USA -- Appendix II - OECD Common Reporting Standard ('CRS') participant countries -- Appendix III - Flowchart 1 - Is this a financial institution? -- Appendix IV - Flowchart 2 - Is this a UK reporting financial institution? -- Appendix V - Flowchart 3 - What FATCA and CRS due diligence must a reporting financial institution carry out? -- Appendix VI - Flowchart 4 - FATCA and CRS due diligence in relation to new individual accounts -- Appendix VII - Flowchart 5 - FATCA and CRS due diligence for a reporting financial institution in relation to new entity accounts -- Appendix VIII - Flowchart 6 - Must a UK reporting financial institution treat this as a CRS or FATCA reportable account? -- Appendix IX - Flowchart 7 - Must a DAC 6 return be made?
Literary Form
non fiction
First edition.
Includes index
Physical Description
1 online resource (317 pages)
Specific Material Designation
Form Of Item

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