Any example cases which highlight the effect of CRS, following its recent adoption?

We have no cases yet because Lebanon is yet to start with the CRS process, but CRS issues have been repeatedly brought up in client meetings with regard to how best to be compliant and deal with issues of anonymity.

When it comes to establishing companies, anonymity is something clients can’t have any more in Lebanon. Needless to say, a lot of businesses in the Middle East are being established in the free zones of Dubai, where there is still some degree of leniency on CRS-compliance. It is just a two-hour flight from here to the free zones, where people know their information won’t be shared. Of equal relevance is that the UAE also has more than 80 tax treaties with various jurisdictions.

We are contending with this problem, although Dubai had recently been blacklisted by the EU, so we don’t know how that will unfold.