Event Description

Following the Foreign Account Tax Compliance Act (FATCA), the (OECD) has launched the standard for the automatic exchange of information (Common Reporting Standard), signed to date by 106 countries. This standard requires these countries to exchange information among themselves on citizens and foreign companies and organizations resident in their country for the purpose of calculating the tax imposed on them for the benefit of their governments.

The Common Reporting Standard is particularly important in that it enhances transparency and cooperation among financial institutions around the world. It includes Self Certification in addition to Due Diligence procedures that must be followed by the banks and financial institutions in Kuwait to identify the required accounts to be reported.

The participants of this seminar will have the opportunity to identify the practical measures of application through the CRS Self Certification, the CRS Due Diligence and online reporting.

Target participants:

• General Managers
• Compliance Managers
• IT Managers
• Risk Management Managers
• CFOs
• Internal Audit Managers.

Seminar Agenda and Timetable

09:00 BDO – CRS Overview
– COMMON REPORTING STANDARDS OVERVIEW
– REQUIREMENTS OF DOMESTIC LEGISLATION
10:00 OPES – CRS Due Diligence
– THE DUE DILIGENCE RULES OVERVIEW
– THE DUE DILIGENCE PROCEDURES FOR EACH CATEGORY
– CHALLENGES AND BEST PRACTICES
– THE DUE DILIGENCE REQUIREMENTS AND SOLUTION
11:00 CRS Self Certification
– CRS SELF CERTIFICATION AND DATA CLEANSING
11:30 CRS Reporting
– ONLINE – ON PREMISE CRS REPORTING
12:00 coffee break.

BDO Address: Al-Shaheed Tower, 6th Floor, Khaled Ben AlWaleed St, Sharq State of Kuwait

Seminar Fee: FREE of Charge.

We look forward to seeing you there!