Common Reporting Standard (CRS)

XM-well-what-now?

We've been helping our clients with CRS (and FATCA... and AIFMD... anyway) reporting since it came about. We know all too well that it is nobody's favourite subject.

Reporting generally consists of two parts - 1) idenitifying the data that is in scope for reporting. This is usually hard enough before 2) translating this is in to a complicated machine format which is compliant with a set of XML schemas. And what's more - despite being a "common" standard - there are nevertheless differences between various reporting jurisdictions.

We've heard that many of the business system in use in Guernsey nowadays are simply not setup to handle this type of reporting efficiently.

We have helped our clients make CRS submissions to Guernsey (IGOR) as well as Switzerland, Hong Kong, Singapore and UAE jurisdictions.

This is all achieved using our purpose-built tooling and even supports those jurisdictions that require encryption (such as Hong Kong and Switzerland.)

If you have a duty to report and are struggling to get started, please get in touch to discuss how we can help.

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