Update on Common Reporting Standards 2021 - 9 March 2021 (On Demand)

Description

A practical webinar for accountants/lawyers to ensure compliance including an overview of the risks in terms of tax compliance for New Zealand tax residents with offshore accounts, life insurance policies and links to offshore trusts or foreign estates

CRS Compliance is the due diligence and the reporting requirement of New Zealand entities such as trusts (outgoing data).

It is the single global standard which imposes due diligence and reporting obligations on certain New Zealand entities to identify and report particulars relating to their settlors, beneficiaries, partners, trustees or any other person that has provided a loan or made an advance payment to the entity.

The webinar will explain the key elements of CRS, what participants should consider ensuring their practice/clients are CRS compliant, which accounts are exempt from the due diligence rules and how CRS risks could be mitigated.

CRS also means IRD obtains offshore account holder details of New Zealand resident. The webinar will look into the incoming data risk and the current IRD activity.

ORIGINAL BROADCAST DATE

9 March 2021

LEARNING OUTCOMES

Attendees will understand what entities are required to conduct the due diligence and what information might need to be reported to IRD. How the rules need to be implemented, what the key risks areas are for accountants and their clients, what due diligence means and how they mitigate compliance risks associated with incoming and outgoing data.

SUITED TO

Accountants, Lawyers and AML/CRS/FATCA Compliance Officers

PRESENTER

Peter Loerscher, Principal - Peter Loerscher International Tax Limited, presenting on behalf of TEO

 

1.25 CPD Hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $195.00 excl. GST

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One-connection-one-fee

Our webinars operate on a 'one-connection-one-fee' basis so you can have your whole team participate for one cost effective price and claim CPD points.

Recordings

All registrants to a live webinar will automatically be sent a recording at the end of that week along with a full transcript of the webinar, regardless of whether you attended or not.

Sole practitioners

A discount on webinars is available for sole practitioners. Please contact us at NZ‑learning@wolterskluwer.com to confirm eligibility.