SS&C Blog

BLOGS. July 15, 2021

Tax Reporting Outsourcing: Reduce Risk and Increase Operational Efficiency

AEOI compliance can be very complex, as different countries and jurisdictions have different requirements. AEOI, which stands for Automatic Exchange of Information, covers both the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS). FATCA is a US regulation enacted in 2010, and CRS is the global equivalent enacted in 2014. An international framework of more than 100 participating jurisdictions have signed a Multilateral Competent Authority Agreement to facilitate the automatic exchange of information to prevent tax evasion.