Tax aspects of investors onboarding: DAC6 to DAC8, FATCA/CRS and AML
In a more and more complex tax regulatory environment, procedures, processes and IT systems are superseding each other, sometimes lacking an overarching tax governance architecture: this raises the probability of failing to identify or report some tax risks as required. Simultaneously, the more stringent regulatory requirements contribute to client and investor frustrations due to delays in the processing of their requests, particularly in the case of client on-boarding.
This module is part of our Automatic Exchange of Information (AEOI) training curriculum and AFC curriculum.
Duration: 2h
Language: Available in English, German and French. The supporting material is only available in English.
Number of participants: up to 15
Available as intra-company course (i.e. dedicated session on demand)
Course content can be customised on demand under specific conditions.
Objectives
By the end of this training, participants will be able to:
- recognise when interactions between DAC6 (and more recent DAC7 and 8), AML, withholding tax and FATCA/CRS should be considered;
- grasp the risks associated with not properly and timely assessing these interactions in their client/investor onboarding process;
- document a client's tax compliance in a more streamlined manner.
Content
This module covers the following:
- Onboarding of the client under the different regulations: obligations and best practices
- Where are my risks? Practical examples
- When do I need to ask for a tax memo?
- Optimisation of the onboarding process as part of the tax governance function
Target audience
This training is designed for all lines of defence of the financial industry: from board members to compliance officers and members of KYC units.
Our lead experts
This training is coordinated by Pierre Kirsch, Partner at PwC Luxembourg.
Pierre Kirsch is a partner in the Luxembourg financial services tax practice with over 29 years of experience serving clients in banking, insurance, and asset management. He leads a team specialising in tax compliance analysis for onboarding banking clients and investors into complex alternative fund structures. Pierre and his team advise financial sector actors in Luxembourg and internationally, helping clients review onboarding and tax reporting processes, implement controls, and define organisational roles. He contributed to establishing PwC Regulated Solutions S.à r.l., managing daily operations, and supporting PwC’s financial services clients with consulting and reporting on operational taxes including FATCA, CRS, QI, and CbCR.
