Channel Islands: FATCA and CRS compliance information (Guernsey)
Information on certain reporting requirements and areas of attention with an intent to maximize quality and accuracy of exchange of information
The tax authority in Guernsey issued guidance (Compliance Information Notice No. 2) to provide compliance pointers and links to various information sources relating to the FATCA and common reporting standard (CRS) regimes.
The purpose of the notice is to provide information on certain reporting requirements and areas of attention with an intent to maximize quality and accuracy of exchange of information. In addition, the notice documents the guidelines for “outsourced service reporting” and the “information gateway online reporter (IGOR) reporting structure for outsourced service providers.”
The notice also includes a reminder about a recent OECD public consultation document detailing a new global tax transparency framework for reporting and exchanging information with respect to crypto-assets, as well as proposed amendments to the CRS for the automatic exchange of financial account information among countries.
Read an April 2022 report [PDF 159 KB] prepared by the KPMG member firm in the Channel Islands
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