Interview with Bella Lai, Head of Regnology Asia Pacific, and Stefan Fuchs, Manager, about the future of global tax reporting and compliance / published on Hubbis.com – a community for wealth management professionals in Asia.
Tax transparency has become increasingly important for banks and wealth managers worldwide since the OECD’s Common Reporting Standard (CRS) and the US Foreign Account Tax Compliance Act (FATCA) have been introduced. Bella Lai and Stefan Fuchs talk about how tax authorities might use the data they receive and discuss how the COVID-19 crisis will influence and further develop those processes. What do banks and wealth managers need to do to address these trends? How can they prepare and how can our solutions help to ease the burden?