Understanding FATCA and CRS: A Comprehensive Overview

Each year, tax evasion costs governments an estimated $492 billion globally. To create more financial transparency governments and regulators have implemented policies to ensure individuals and entities disclose their offshore assets and income to tax authorities.  Central to these changes are the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS). These frameworks require financial institutions (FIs) and fund managers to determine, record, and submit information on account holders who may be tax residents in other jurisdictions.…...
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Case Study: StrongVC

Introduction When StrongVC launched their first funds, its primary focus was on getting the fundamentals right, establishing investment processes, building a portfolio, and ensuring fund administration was in place. However, as the firm scales, its operational requirements grew exponentially and quickly expanded into a demand for scalable solutions that could keep pace with: Increasing transaction volumes from new funds and portfolio activity Investor expectations for real-time transparency and reporting Complex fund structures requiring advanced waterfall calculations and compliance controls To…...
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