Evaluating AEOI Solutions: Top Questions to Consider

Evaluating AEOI Solutions: Top Questions to Consider

September 14, 2016, 8:00 am EST in Blog, Global Information Reporting

For financial institutions looking to proactively comply with global reporting standards including Foreign Account Tax Compliance Act (FATCA), Crown Dependencies and Overseas Territories (CDOT) legislation and the Common Reporting Standard (CRS) while minimizing costs and risks, our recent report showed that an Automatic Exchange of Information (AEOI) solution is key....

Goods and Services Tax (GST) in India a Real Possibility for 2017

September 2, 2016, 10:22 am EST in Blog

Since the beginning of the new Millennium, India has repeatedly flirted with the idea of imposing a nationwide Goods and Services Tax (GST). However, legislative activity that has taken place over the last few weeks indicates concrete momentum towards this long-standing goal. The GST Constitution Amendment Bill The GST Constitution Amendment Bill...

AEOI Report

Most Financial Institutions Plan to Implement Automated AEOI Reporting Solutions in the Next Year

August 29, 2016, 11:52 am EST in Blog

Overview Since the United States’ Foreign Account Tax Compliance Act (FATCA) regulation first passed, many financial institutions have relied on home-grown solutions to maintain compliance. Now, with a few years of Automatic Exchange of Information (AEOI) reporting under the belt, the industry has reached a tipping point and in a recent...

Automatic Exchange of Information (AEOI) Updates

Automatic Exchange of Information (AEOI) Updates: August 15-26, 2016

August 26, 2016, 12:42 pm EST in Blog

Overview Automatic Exchange of Information (AEOI) legislation and technical updates are top concerns for foreign financial institutions. The Sovos Compliance Research Team continually monitors new regulations and updates from around the world and publishes them in our tool, Sovos Taxport Compass. Contact us today to start your subscription and have access...

B Notice

Is Your Organization Prepared for B and P Notice Season?

August 18, 2016, 12:09 pm EST in Blog, Tax Information Reporting

The IRS has started sending CP2100 and 972CG notices to organizations. These notices, commonly referred to as B and P notices respectively, contain incorrect name/taxpayer identification number combinations from previous years’ information returns. The landscape of B and P notices is multifaceted and managing this process to stay compliant can...