A V Savla & Co.| Advisory & Consulting

FATCA and CRS Compliance in the Middle East

FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard) are international tax compliance regulations aimed at combating tax evasion and promoting tax transparency. They require financial institutions to identify and report accounts held by U.S. persons (FATCA) or persons tax resident in participating jurisdictions (CRS).

At A V Savla, we offer the following FATCA and CRS compliance services:

Entity Classification : We help determine the entity's classification under FATCA and CRS regulations.
Impact Assessment : We analyse the impact of FATCA and CRS on the entity's systems, products, departments, policies, and procedures, identifying any gaps that need to be addressed for compliance.
Support : We assist the entity in implementing due diligence requirements, ensuring proper identification and reporting of reportable accounts.
Policy and Procedures : We develop policies and procedures aligned with FATCA and CRS regulations to guide the entity's compliance efforts.
Compliance Review : We conduct comprehensive reviews to validate if the organization is following the established policies and procedures and complying with FATCA and CRS regulations.
Reporting Support : We provide assistance in the reporting process, helping the entity fulfill its obligations by submitting accurate and timely reports to the relevant authorities.

Our services aim to help organizations navigate the complexities of FATCA and CRS compliance, ensuring adherence to the regulations and mitigating the risk of non-compliance.

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