The Foreign Account Tax Compliance Act (FATCA) is a U.S. regulation designed to combat offshore tax evasion by requiring Foreign Financial Institutions (FFIs) to identify and report U.S. account holders to the Internal Revenue Service (IRS). Alongside FATCA, the Common Reporting Standard (CRS) was developed by the OECD to facilitate global information exchange and ensure tax transparency.

At Goldstone, we offer specialized FATCA and CRS compliance services to help financial institutions and entities in the UAE meet international regulatory standards effectively and efficiently.

Our FATCA & CRS Services Include:

• Entity Classification – Determining the entity’s classification under FATCA and CRS frameworks.

• Impact Assessment – Evaluating how regulations affect systems, products, policies, and procedures, and identifying compliance gaps.

• Implementation Support – Assisting in the execution of due diligence procedures and regulatory requirements.

• Policy & Procedure Development – Drafting comprehensive policies aligned with FATCA and CRS standards.

• Compliance Review – Performing internal audits to ensure ongoing compliance with established protocols.

• Reporting Assistance – Supporting your team in submitting accurate reports to the relevant tax authorities.

With Goldstone’s expert guidance, your organization can confidently navigate FATCA and CRS requirements while minimizing risk and maintaining international compliance.