Tax Transparency
Is it unclear how a CRS or FATCA data record should feed into a report, or is your organisation preparing reporting processes for crypto-assets? I examine the relevant information and handovers with your specialist team and develop proposals for work instructions and specialist controls. The result provides a basis for reasoned decisions on how to handle cases of doubt and identified gaps.
From a questionable data item to work instructions and controls
When a data record raises questions, looking at the finished report is often not enough. With your specialist team, I examine how the underlying information was collected and classified. This includes handovers between customer onboarding and the reporting process: what information is missing, and where must an inconsistency be addressed?
This examination leads to concrete proposals for work instructions and controls. They address how cases of doubt should be decided and the reasons recorded. Your team gains a basis for addressing identified weaknesses and tracing specialist decisions later on.
The focus is on CRS and FATCA. My FATCA work is based on its implementation in Germany or the relevant implementation in the EU Member State to which the engagement relates. Independent advice on US law is not part of the service.
For crypto-asset reporting, the advice begins by identifying which implementation of CARF is relevant to the specific business model. Work on the required data and related review processes follows from that.
Putting the results to work with specialist teams
The results are discussed with the people responsible for and applying each process. This helps establish whether a control description is understandable in day-to-day work or leaves questions unanswered. Practical training can accompany its introduction. Scope and division of responsibilities depend on the specific engagement.