How much of your time, resources and management is tied up completing annual Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) compliance? Meeting your tax compliance obligations in an efficient and sustainable way could be the difference between success and failing to achieve a balance between cost and risk.
Transparency of tax information in the financial services industry continues to evolve, propelled by the digitization of tax and information reporting, global tax authorities, strong political agendas at the global and local levels, and heightened demands.
Competing FATCA and CRS regulations make it challenging for financial institutions to manage compliance effectively and efficiently. Data quality continues to be one of the major hurdles faced today and can put your firm at reputational, regulatory and financial risk.
Backed by the power of the EY organization’s leading technology-enabled and integrated reporting engines, our Global Tax Reporting Services (GTRS) model provides a comprehensive service to reduce your operational risk, improve data quality and meet shifting global tax reporting requirements.
Using a secure portal, our teams of experienced financial services tax professionals across the EY global network can perform data analysis and account-holder validation through report generation to support a fully compliant submission.
Our more than 300 clients around the globe with FATCA and/or CRS reporting obligations in 80 jurisdictions discovered how to improve their bottom line and meet their tax reporting obligations through EY GTRS.