ARTICLE · 15 JULY 2019

Five Big Updates On QI, FATCA, CRS, And MDR

KPMG Luxembourg

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Compliance is an ever-shifting challenge, given the changing needs of regulators, new technological capabilities, and frequent legal updates.

LuxembourgTax

Jean Kizito

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Compliance is an ever-shifting challenge, given the changing needs of regulators, new technological capabilities, and frequent legal updates. To help you stay on top of everything, our team has compiled the most important insights from the field of operational taxes. We were inspired by discussions at a recent industry-leading conference^[1] we attended, where tax practitioners, industry experts, and the IRS gathered to explore the future of the industry.

Read on for five key takeaways:

1. Documentation and due diligence

Obtaining valid documentation is the key starting point for QI, FATCA, or CRS compliance. Some notes on the recently proposed "burden reduction" regulations under FATCA and Chapter 3:

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