Financial transparency is the new global standard.
The Organisation for Economic Co-operation and
Development’s (OECD) CRS has expanded the
scope of cross-border financial account disclosure
originally introduced by the US Foreign Account
Tax Compliance Act (FATCA). In order to counter
attempts of CRS avoidance, the OECD recently
published the Mandatory Disclosure Rules
(MDRs) that provide the basis on which CRS
Avoidance Arrangements are required to be
disclosed and later exchanged with relevant foreign
tax authorities.
With Malaysia as a fully committed member of the CRS Multilateral Competent Authority Agreement, extensive measures are being put in place to facilitate this exchange of financial information. This session will discuss the above global initiatives with emphasis on MDR provisions and developments surrounding the US FATCA, as well as updates on Malaysia’s adoption of CRS.
With Malaysia as a fully committed member of the CRS Multilateral Competent Authority Agreement, extensive measures are being put in place to facilitate this exchange of financial information. This session will discuss the above global initiatives with emphasis on MDR provisions and developments surrounding the US FATCA, as well as updates on Malaysia’s adoption of CRS.
About Speaker
zac lucas
Zac Lucas is the Founder of Centenal Legal Technology Group. Zac is a practicing lawyer with over 20 years legal experience, admitted to practice in England & Wales, and is a former Partner of various international law firms including, Harneys, Ogier, Lawrence Graham and Gowling WLG advising on all areas of international private client law, including cross border wills, trust and estates and business succession planning. Zac has particular expertise advising on international regulatory law and has lectured and written extensively on the OECD Common Reporting Standard (CRS). As a result, Zac has been retained by a number of leading private banks, trust companies, wealthy individuals and families and a governmental authority to advise on the practical implementation of the CRS. Zac has now taken the step, in founding Centenal Legal Technology Group, to leverage the power of information technology to create innovative enterprise application software solutions for use by Financial Institutions, Business Professionals and UHNW families and individuals.