Get future ready now. To deal with the increasingly digitized world economies, the governments, global regulators, and other stakeholders are rapidly catching up with evolving technologies, transactional and other business models, and may even be ahead of commercial organizations in embracing them. Nexdigm is well equipped to guide the digital transformation of your firm's tax function.
The United States of America (USA) enacted the Foreign Account Tax Compliance Act (FATCA) in 2010 for the reporting of assets held by US taxpayers in offshore accounts and through non-US entities. In line with this, the US entered into bilateral agreements with governments of several countries for the exchange of information.
Following FATCA, Common Reporting Standard (CRS) was enacted by various countries including the United Arab Emirates (UAE). Pursuant to the implementation of CRS, financial institutions are required to comply with reporting requirements on an annual basis.
Nexdigm provides an extensive range of services with respect to FATCA/CRS compliances which includes analyzing and evaluating whether an entity is a financial institution and handling the due compliances under the FATCA and CRS regulations.
Reach out to us at ThinkNext@nexdigm.com