FATCA, CRS & Inter Governmental Agreement – Terms & Definitions

Here are more than 200 terms and definitions that exist in relation to FATCA, CRS, the IGAs and the Statutory Instruments that ostensibly write the IGAs into domestic law.

Given the point of origin of the IGAs and CRS you could be forgiven for thinking that FATCA, the CRS and the IGAs have exactly the same definitions for terms.

Alas, whilst similar, these definitions are not the same and the subtle differences are perhaps going to prove, well, none too subtle.

For example, the definition of a Non Participating Foreign Financial Institution is worthy of scrutiny.