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Virtual Executive Roundtable

CRS DEEP DIVE

Best Practices, Recent OECD Initiatives and Future Implications

Wednesday, 23 June 2021

2.00 pm - 3.30 pm Singapore Time

About This Virtual Executive Roundtable

Over 130 jurisdictions have begun reporting on the OECD Common Reporting Standard (CRS) in the last few years, and as a result many have built robust and effective CRS frameworks.

However, the ongoing COVID-19 pandemic and consequential economic downturns, has brought tax transparency and tax reporting to the forefront, making it more important than ever for governments to use data from tax transparency initiatives to mobilize tax revenues and combat tax evasion.

In response to this, major initiatives from the OECD over the last year, include its first Peer Review - conducted on the legal frameworks of the 100 jurisdictions that committed to exchanging information from 2017 or 2018 -  and the Guide on Promoting and Assessing Compliance

Additionally, the Global Forum has commenced its reviews on the effectiveness of the implementation of the CRS amongst these jurisdictions and expects to publish the results in 2022. Whilst the Compliance Guide highlights the areas of focus as it pertains to any future reviews or audits.

In general, one might say that CRS keeps financial institutions busy, no matter if countries have already joined CRS in the past or if they are going to join soon.  

In this executive roundtable we would like to dive deep into the operational challenges that financial institutions are facing, lessons learned from the various experiences, and the future trends and strategies to build a long-term compliance programme.

Key Takeaways

📌 Key challenges of the CRS thus far

📌 Lessons learned and best practices from early adopter jurisdictions and institutions

📌 Recent OECD initiatives and future implications: Peer Review Report and Compliance Guide

📌 How financial institutions can leverage technology to meet regulatory requirements

📌 Centralised vs. decentralised approach to CRS due diligence and reporting

📌 The upcoming wave of tax transparency initiatives – what do financial institutions need to take into consideration?

Meeting Agenda

2:00 PM SGT
Welcome & Introductions

Connect Global Group

2:05 PM SGT
Let's set the Scene - Opening Presentation

Vishnu Veluri, Senior Consultant, Regnology

2:15 PM SGT  
CRS Deep Dive Open Discussion

Live discussion and interaction between participants and panelists.

3:25 PM SGT  
Closing Remarks 

Vishnu Veluri, Senior Consultant, Regnology

 

Roundtable Speakers

 
Pranay Rathi

Global Tax Reporting Project Director

ANZ

Surin Segar

Group Head of Tax

MAYBANK

Bella Lai

APAC Director | Head of RegTech SG

REGNOLOGY

Muhammad Arif Bin Othman

Segment Manager | Client Tax Information

STANDARD CHARTERED

Roundtable Moderation By

Vishnu Veluri

Senior Consultant

REGNOLOGY

Panel Attendees include Regional Heads from