Finance Ministry building where the National Tax Agency is accommodated in Tokyo’s Chiyoda Ward in 2018. (Asahi Shimbun file photo)
Japanese overseas assets have reached some 10 trillion yen ($95.20 billion), a sign wealthy Japanese people have a tremendous amount of holdings abroad, according to the National Tax Agency.
The agency announced on Feb. 2 that it had crunched the numbers in a review spanning some 2.06 million accounts owned by Japanese individuals and corporations at financial institutions across 86 countries and regions abroad.
Many tax authorities around the world, including those in Japan, share information on accounts owned by foreigners and foreign corporations, with some exceptions, at domestic financial institutions. They share account information through an international system called the Common Reporting Standard (CRS), designed to increase financial transparency and help combat tax evasion.
IEIM404710 - Charities: Introduction
You should check the other guidance available on GOV.UK from HMRC as Brexit updates to those pages are being prioritised before manuals.
IEIM404710: Charities: Introduction
The definitions and terminology of the Common Reporting Standard (CRS) regime do not easily translate to the structures, processes and terminology used by charities. This guidance brings together material from the manual that is relevant to charities, and puts it into terminology that is similar to that used by the sector. It is not intended to replace the full guidance or override any part of it. These sections should be read in conjunction with the full guidance, and charities and their advisers should refer to the more detailed guidance and OECD CRS and Commentary where necessary.
Financial Asset
Financial Assets are investments such as securities (stocks, shares, bonds, debentures), commodities, swaps, insurance or annuity contracts and interests in partnerships. They also include any interests in any of the above. They do not include direct interests in real property or cash.
Financial Account
For Investment Entities, Financial Accounts are the debt and equity interests in that entity. For charities that are trusts this will include settlors and beneficiaries of the trust (but not donors); for charities that are companies this will include shareholders and anyone else with an interest in the profits or capital of the company. See IEIM404750 for trusts, and IEIM404760 for companies.
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Leading Compliant Client Lifecycle Management Platform Receives Accolades for Its Support of Fund Administrators throughout COVID-19 Shift to Remote Work
BOSTON, MA / ACCESSWIRE / January 28, 2021 / Finomial, a leading Compliant Client Lifecycle Management ( CCLM ) platform, was shortlisted for the Best Cloud-Based Middle-Back Office Solution at the Annual Fund Intelligence Operations and Services Awards 2021. Winners are to be announced at this year s Fund Intelligence Operations and Services Awards virtual ceremony on Wednesday, February 24, 2021. Today s news comes on the heels of Finomial s US HFM Technology Award shortlist news and the completion of the FATCA and CRS (Foreign Account Tax Compliance Act and Common Reporting Standard) in the Singapore region, specifically for funds domiciled in Singapore.