What are the practical implications of CRS on tax structuring advice. Has it affected the way in which you advise clients to structure their tax affairs?
When it comes to Lebanon, CRS and tax issues are a tricky subject. Many people have foreign passports and there is a huge diaspora going back and forth with interests in foreign countries. A lot of people don’t realise the impact CRS will have and that is mostly due to lack of knowledge and tax structuring experience amongst tax advisors and professionals.
The above text is taken from the Tax Working Group Virtual Series – “Common Reporting Standards Imminent implications for client tax reporting” – read in full here.