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ARTICLE · 15 JANUARY 2016

Coping With CRS

Carey Olsen
Carey Olsen
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Carey Olsen

Carey Olsen

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The tax authorities in the Crown Dependencies sent the first set of US FATCA reports, compiled by financial institutions in their respective jurisdictions, to the US Internal Revenue Service on 30 September 2015.

GuernseyFinance and Banking
Laila Arstall
Laila Arstall
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The tax authorities in the Crown Dependencies sent the first set of US FATCA reports, compiled by financial institutions in their respective jurisdictions, to the US Internal Revenue Service on 30 September 2015. Now the Crown Dependencies' financial institutions are preparing to report under the Common Reporting Standard (CRS) due to be introduced for on 1 January 2016.

The tax authorities in the Crown Dependencies sent the first set of US FATCA reports, compiled by financial institutions in their respective jurisdictions, to the US Internal Revenue Service on 30 September 2015. Now the Crown Dependencies' financial institutions are preparing to report under the Common Reporting Standard (CRS) due to be introduced for on 1 January 2016. As an "early adopter" of CRS Guernsey-based Carey Olsen senior associate, Laila Arstall, considers the likely impact of CRS on Guernsey's financial institutions.

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