The use of trusts is under attack in a number of European jurisdictions, and the OECD's Common Reporting Standard poses significant further threats to their use.
In this article we look at the reporting rules of the CRS, including in comparison with FATCA, and argue that a more balanced application of the CRS can be achieved with regards to trusts if there is urgent dialogue with the OECD and EU.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.