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User Guide - Customer & Investor Tax Transparency Compare Tool

1. intended to collect information from users on the functionality and content of the Compare Tool and is different from the User Management contact address 4 1 3 Glossary By clicking on this link the user will be directed to a glossary which gives short explanations of terms and phrases as well as definitions of various abbreviations 4 1 4 Site Provider Information By clicking on the Site Provider Information link the user will be directed to the general site provider information and further Company information on the pwc de website 4 1 5 User Guide By clicking the User Guide link the user will see a version of the User Guide in a pop up window 4 2 Close In all pop up windows clicking the Close button closes the view and returns the user to the previous screen It is not advisable to use the internet browser navigation buttons as this action may result in logging out of the Compare Tool moa pwe Customer amp Investor Tax Transparency Compare Tool o torearen 23 vennen Base Country Countries regions of interest Models Americas Europe EZE Ausina Middle East Asia Pacific Africa User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 11 SS 4 3 Back Next The Back and Next buttons should be used to navigate the views It is not advisable to use the browser navigation buttons as this action may result in leaving PwC CITT Compare Tool 4 4 Create
2. pwe Table of Contents 1 Welcome 1 1 About the PwC CITT Compare Tool 1 2 Security 1 3 Disclaimer 1 4 Other Terms amp Conditions for users of the Compare Tool 2 Introduction 3 Getting Started 3 1 Log in 3 2 Contact 3 3 Site Provider Information 3 4 Confirm 4 General Information 4 1 Information Toolbar 4 1 1 Logout 4 1 2 Contact 4 1 3 Glossary 4 1 4 Site Provider Information 4 1 5 User Guide 4 2 Close 4 3 Back Next 4 4 Create PDF 4 5 Save Load functionality 4 5 1 Save My Settings 4 5 2 See My Settings 5 Country Selection 5 1 Base Country 5 2 Confirm Selection 5 3 Countries regions of interest 5 4 Next User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 aI a a A A O O O CO N 10 10 10 10 11 11 11 11 12 12 13 14 15 17 17 17 17 18 SS 5 5 Clear All 18 6 Type of Report 19 6 1 Executive Report 19 6 2 Status Overview 20 6 3 Reporting Overview 20 6 4 Create Your Own Report 20 Executive Report 21 7 1 Executive Report Content Area 21 7 1 1 Structure of the Executive Report as PDF output 21 7 1 2 Country View of the Executive Report as PDF output 22 8 Status Overview 23 8 1 Status Overview Map View 23 8 1 1 World Map 23 8 1 2 List of Countries 24 8 1 3 FATCA UK FATCA 25 8 1 4 CRS 25 8 1 5 Create PDF 26 8 1 6 Next 26 8 2 Status Overview Tabular Comparison View 27 8 2 1 Tabular Comparison View Content Area oF 8 2 2
3. 9 2 3 1 The Reporting Overview in Timeline Structure as PDF output The created PDF file is structured chronologically according to the selected countries On the left side of the PDF additional information about the reporting schedule and on country specific reporting timelines is provided Reporting Overview Reporting E us Fatca Timeline 2015 N Netherlands a The reporting deadline for Dutch financial institutions that only have a reporting obligation for FATCA is 1 June 2015 The period in which they can send in the information is 5 March to 1 institutions to let the reporting take place in the beginning of February 2015 but has been extended to 30 April 2015 in many cases eee Specific Account Reporting June 30 2015 Aggregate reporting January 31 2015 Customer amp Investor Tax Transparency Compare Tool Reporting Overview 2015 04 10 Figure 218 Reporting Overview as PDF output Timeline View 9 2 4 Suitch to Map View Clicking this button redirects the user to the Map View User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 36 s 9 2 5 Next Clicking Next directs the user to the Tabular Comparison View of the countries selected in Compare Tool Customer Area Step 01 Country Selection User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 37 SSS _ 9 3 Reporting Overview Tabular Comparison View Th
4. 10 1 2 Select All Qwithin one category only Should the user want to select all criteria in one category the Select All button in the upper left corner of the category should be clicked Then all selectable criteria within this category will be indicated with a tick mark 10 1 3 Clear All within one category only Should the user want to remove the current selection in one category only the Clear All button in the upper left corner of the category should be clicked Then all tick marks set in this category will be removed 10 1 4 Clear All entire selection screen Should the user want to remove the current selection in all of the available categories the Clear All button in the upper right corner of the Category Selection screen should be clicked Then each tick mark set in any of the available categories will be removed 10 1 5 Next Clicking Next directs the user to the Tabular Comparison View The following comparison includes all criteria chosen in the Criteria Selection Area as well as the countries selected in the PwC CITT Compare Tool Customer Area Step 01 Country Selection The user can only use the Next button after selecting one or more options from the Criteria Selection Area User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 43 3s 10 2 Create Your Own Report Tabular Comparison View pwe Customer amp Investor Tax Transparency Compare Tool SE 3 implementation Tim
5. Customer amp Investor Tax Transparency Compare Tool Contact Reporting Overview Jersey Wendy Dorman FATCA Reporting 2 e PricewaterhouseCoopers CI LL Has guidance been issued on local reporting r KA 37 Esplanade te St Helier Comments regarding guidance on local reporting Link to guidance on local reporting FATCA Account Reporting on U S Reportable Account Yes FATCA Account Reporting on Specified U S Persons FATCA Account Reporting on Passive NFFEs with U S Controlling Persons FATCA Account Reporting on Recalcitrant Account Holders FATCA Account Reporting on Additional Account Holders FATCA Account Reporting on NPFFI Account Holders Transitional Reporting Required under FATCA No T Information to be reported in the 2015 Reporting Year Information to be reported in the 2016 Reporting Year All of the above ph Figure 19 Reporting Overview single country overview 9 1 2 1 Information Area Single Country Overview Information about FATCA and UK FATCA reporting requirements as well as information about the Common Reporting Standards CRS in the selected country are provided in this screen view 9 1 2 2 Contact Information Single Country Overview Furthermore in case more details are required the left hand side of each page the respective contact information for PwC internal specialists Clicking the mail address see Figure 194 point 2 above the flag will open a mail to the respective contact in the
6. User Guide PwC Customer amp Investor Tax Transparency Compare Tool appropriate reporting period and B the total gross proceeds from the Version 1 0 33 9 1 3 FATCA UK FATCA This is the default selection when entering the Reporting Overview Different jurisdictions are shaded depending on what model of FATCA and or UK FATCA comes into effect 9 1 4 CRS The user may switch to the CRS Reporting Overview by clicking the CRS field in the left hand View column Different jurisdictions are shaded depending on their reporting timeline 9 1 5 Create PDF Clicking this button automatically creates a PDF file containing the Status Overview World Map This will be saved as a PDF file to the user s default download folder The Microsoft Windows default download folder is accessible via the path C Users lt UserName gt Downloads Reporting Overview Customer amp Investor Tax Transparency Compare Tool Reporting Overview 2015 04 13 e eo Reporting Overview Australia Canada Frane E ea iat a sam aN al i ma i bell EE wn sy paa Figure 26 Reporting Overview as PDF Output World Map User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 34 Ss _ 9 1 6 Next Clicking Next directs the user to the Tabular Comparison View of the countries selected in Compare Tool Customer Area Step 01 Country Selection 9 1 7 Switch to
7. Figure 8 Select Type of Report 6 1 Executive Report The Executive Report provides an overview of the regulatory and operational environment in each jurisdiction with regard to Customer amp Investor Tax Transparency Therefore these could act as internal status updates a tool for onboarding team members or communication to steering committees It conveniently summarizes scope and enactment of current legislation and implementation timeframes in one document Clicking the Select button guides the user to the download of the Executive Report in PDF User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 19 SS 6 2 Status Overview The Status Overview provides a graphic representation of each country s CITT status as well as details on the status of implementation of FATCA UK FATCA and CRS in the selected jurisdictions including links to the IGA IGA Model type IGA signature date status of local legislation and guidance and list of countries with which the jurisdiction has CRS agreements in place Country specific Status Overviews are available by clicking on individual countries from the list below the maps Clicking the Select button guides the user to the Status Overview 6 3 Reporting Overview The Reporting Overview provides a graphic representation of each country s CITT reporting status as well as details on the reporting requirements of FATCA UK FATCA and CRS in the selected jurisdiction
8. 0 sa 4 General Information 1 2 3 Customer amp Investor Tax Transparency Compare Tool aaa 4 O3 View Report pwe Custo Compare Tool o2 Th o3 Yost Countries regions of interest Models Americas Europe Middle East Asia Pacific Africa Figure 2 PwC CITT Compare Tool Customer Area 41 Information Toolbar The Information Toolbar is the user s central hub to navigate to Contact Site Provider Information Glossary and User Guide It is always accessible through the upper right corner of the web application 4 1 1 Logout By clicking on the Logout button the user will exit the Compare Tool and will be required to log in in order to access the content contained within the Compare Tool Note that logging out does not delete the user s set preferences which were saved to the user s profile Further the Compare Tool will reflect the selections made prior to logging out for the user s next log in e g selected countries and criteria Therefore if the user would like to start fresh at log in he she should click the Clear All selections in the country selection area and the Create Your Own Report area 4 1 2 Contact The contact link on the left hand side automatically creates a blank e mail to CITT Feedback CITT_Tool_Feedback de pwe com in the user s default e mail client This e mail address is User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 10
9. 2 See My Settings Logat Carec Gieser She Provider horrein Customer amp Investor Tax Transparency Compare Tool me o onnunnndannsa Z Da we cesa X e Sm gennncttennen bons ETETETT CET eea aaa 6 de ENE EE e 2 close X Figure 6 See My Settings Screen selected example view 4 5 2 1 Name By clicking the arrow symbol on the right or clicking any place within the name field the user can open a dropdown menu containing the user s saved settings Here the user may choose between previously saved settings Within the dropdown menu the user should select the previously saved settings to load After selecting an entry the information about Base Country Selected Countries and Type of Report become visible in the fields below 4 5 2 2 Base Country This field displays the Base Country selected 4 5 2 3 Selected Countries This field displays the countries selected as reference countries in the Countries regions of interest area of the in the Compare Tool User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 15 4 5 2 4 Type of Report The type of report overview that the user previously selected is displayed In the event the user has not yet selected any type of report this field will display the Status Overview as the current report 4 5 2 5 Load Cancel By clicking on the Load button the selection will be loaded into all applicable areas of the Compare Tool Clicking the Cancel Butto
10. 5 3 Countries regions of interest Within the Countries regions of interest section the user may select the countries to compare to the Base Country The countries are structured according to geographic regions User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 17 The countries will be displayed after clicking the toggle for the respective regional section The user may then select countries by setting a tick mark next to the countries of choice Only those countries included in the engagement letter will be able to be clicked 54 Next Once the user s selection is made clicking the Next button on the bottom right corner will bring the user to the next section of the Compare Tool 5 5 Clear All Should the user wish to remove a current selection clicking the Clear All button in the upper right corner will achieve this result by eliminating all country selection except for the Base Country selection User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 18 m 6 Type of Report A variety of reports in differing formats can be generated from the PwC CITT Compare Tool The user is able to select pre determined overviews highlighting the areas of status and reporting containing the criteria relevant for each topic This Step can be accessed either by clicking the Next button in the previous step or directly by selecting 02 Type of Report in the central na
11. Date Signed 29 90 14 Statu Signed n CRS Status ps7 Copy of signed IGA Jersey FATCA Agreement IGA Signature Date are CRS CAA Signed ance i Effective 1 1 2016 Anguilla Argentina Bekgum Bermuda british Virgin Islands Cayman Isla a Croat Is Most Favored Nation Clause Applicable Applaca ble Executed Tax Information Exchange Agreemen t TIBA with the United States Yes Link to Executed Tax Information Exchange Agreement TIEA with the United States http www a CRS CAA Signed and Effective 1 1 201 UK FATCA Applicable Yes Link to relevant UK mi meee FATCA Agreement Czech Republec Densar atomia http yeww gov je SteC Faroe Idands Finland France ralit Germany Greece Mexico Montserrat Netherlands Norway Poland Portugal Romania FATCA UK FATCA Regulatory Authority States af Jerse FATCA UK FATCA Reporting Authority States af Jersey CRS Regulatory Authority States of Jerscy CRS Reporting Authority States af Jersey Guernsey Hungary Ieelan Status of CRS Legislation Ireland Ide of Man Italy Korea Latvia Liechtenstein Lahuanss Figure 13 Status Overview as PDF output single country view 8 1 3 FATCA UK FATCA This is the default selection when entering the Status Overview Different jurisdictions are shaded depending on what model of FATCA and or UK FATCA comes into effect 8 1 4 CRS The user may switch to the CRS Status Overview by clicking the CRS field in the l
12. FATCA and the OECD Common Reporting Standard CRS Comparisons of various definitions requirements and evaluations of country specific topics in various jurisdictions are the main functions of the PwC CITT Compare Tool Thereby it becomes possible to recognize the individual country differences and evaluate these according to particular specifications User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 1 2 Security When using the PwC CITT Compare Tool please ensure to keep log on credentials and any personal information private Passwords must be kept secure and should not be disclosed to anyone else or allow anyone else to use it to access the PwC CITT Compare Tool It is kindly requested that users inform PwC immediately in the case of a lost password or know or suspect someone else may know or have access to it New user credentials will be issued in such cases 1 3 Disclaimer No PwC firm makes any representations or provides any warranties to users of the Compare Tool about e the availability or functionality of the PwC CITT Compare Tool or anything in it as either may be unavailable or discontinued at any time e User access to the PwC CITT Compare Tool may be suspended or discontinued at any time immediately and without warning regardless of whether the user complies with these terms To the maximum extent permitted by law each PwC firm e excludes all implied warranties relating to
13. Filter Option 28 8 2 2 Switch View 28 8 2 4 Create PDF 29 9 Reporting Overview 31 9 1 Reporting Overview Map View 31 9 1 1 World Map 31 9 1 2 List of Countries 392 9 1 3 FATCA UK FATCA 34 9 1 4 CRS 34 9 1 5 Create PDF 34 9 1 6 Next 35 9 1 7 Switch to Timeline View 25 9 2 Reporting Overview Timeline View 35 9 2 1 Timeline 35 9 2 2 Commentary 35 User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 9 2 3 Create PDF 36 9 2 4 Switch to Map View 36 9 2 5 Next a7 9 3 Reporting Overview Tabular Comparison View 38 9 3 1 Reporting Overview Tabular Comparison View Content Area 38 9 3 2 Filter Option 29 9 3 3 Switch View 29 9 3 4 Create PDF AO 10 Create Your Own Report 42 10 1 Create Your Own Report Selection Screen 42 10 1 1 Criteria Selection Area 42 10 1 2 Select All within one category only 43 10 1 3 Clear All within one category only 43 10 1 4 Clear All entire selection screen 43 10 1 5 Next 43 10 2 Create Your Own Report Tabular Comparison View 44 10 2 1 Tabular Comparison View Content Area 44 10 2 2 Filter Option 44 10 2 3 Reset Filter 45 10 2 4 Switch View 45 10 2 5 Create PDF 46 11 Terms 49 1 Welcome 1 1 About the PwC CITT Compare Tool The PwC CITT Compare Tool Compare Tool is a web application which provides information from global sources regarding customer and investor tax transparency regimes Included are several topics such as U S FATCA UK
14. Investor Tax Transparency Compare Tool Version 1 0 45 SS 10 2 4 1 Show Hide Content Through the Show Hide Content button in the upper right corner users may open an overlay window see Figure 276 containing the listed countries and criteria By setting or removing tick marks the user may change the list of presented countries and or criteria Customer amp Investor Tax Transparency Compare Tool O1 Country v O2 Type of Report v O3 View Report Create Your Own Report a Show Hide Content Countries Criteria Germany Jersey Netherlands Switzerland A Germany PwC Contact Person Or Kari Kupper Wendy Dorman Remeo van der Linden Christoph Schare Jersey E Mail Address A Netherlands implementation Timeline Switzerland Governance amp Scope _ a United Kingdom Due diligence IGA Model Type A Status Copy ofsigned IGA IGA Signature Date Germany Jersey Netherlands Switzerland Z UK FATCA Applicable No standard form of selt No standard form of selt The Outch Bankers No standard form Z Compliance control program certification was or ts cerbficabon was or is Association has developed a certification tor FAJ expected to be provided by expected to be provided selt certification form in ts expected to be the BZSt Certain selt coordination with the Dutch the SIF The Swiss certification examples were Ministry of Finance Financial Association has p Exempt Beneficial Owners other pr
15. PDF Clicking this button automatically creates a PDF file from the user s currently selected view This Report will be saved as a PDF file to the user s default download folder Using Microsoft Windows the default download folder is accessible via the path C Users lt UserName gt Downloads Please note that the PDF reports include the user s entire selection from the PwC CITT Compare Tool Customer Area Step 01 Country Selection User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 12 SS 4 5 Save Load functionality a pwe Customer amp Investor Tax Transparency Compare Tool os rur oraren 03 toe Base Country Countries regions of interest Seurch M odels Americas Europe Ausina Middle East Asia Pacific Africa o ta Middle East Japan Jersey Asia Pacific P Africa 1 pn Ta Confirm selection O El Save My Settings E See My Settings Figure 3 Save Load functionality in the PwC CITT Compare Tool Customer Area At any point in time it is possible to save current settings and preferences together with the user s selection of countries as a unique profile To save current selections to the profile click the button Save My Settings To load saved selections from the profile click the button See My Settings User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 13 m 4 5 1 Save My Set
16. T Reporting on Specified U S Persons Link to guidance on local Y reporting Comments regarding Y guidance on locals z reporting ee Has guidance been issued on local reporting poring http Awww bzst de DE Steuer s Reporting under the FATCA Agreement are available for individual data reporting and mass data reporting electronically Individual data transmission BZStOnline portal Individual reporting will be possible via the BZStOnline portal Once the delivery is possible in an online a notification will be made Mass data transmission ELMA The data is exchanged in XML format and is carried but in an aytomat d process using the ELMA interface for mass E Save My Settings D See My Settings n_International FATCA EAD Elektronische_Abgabe_und_ Datenuebermittlung_node ht mljsessionid F79CA642721 ODOD3BFD40B8F87579CAA The term U S Reportable Account means a Financial Account maintained by a Reporting German Financial Institution and held by one or more Specified U S Persons or by a Non U S ity with one or more Gi g Perspas iat is a Specified U S Person Notwithstanding the foregoing an account shall not be treated as a U S Reportable Account if such accountis not identified as a U S Reportable Account after application of the due diligence procedures in Annex The term Specified U S Person means a U S Person other than i a corporation the stock of which is regul
17. Timeline View Clicking this button directs the user to the Timeline View of the countries the selected in PwC CITT Compare Tool Customer Area Step 01 Country Selection 9 2 Reporting Overview Timeline View pwe Custonter amp Investor Tax Transparency Compare Tool O1 Country v O2 Type of Report O3 View Report o i Crea Switch to View Commentary Reporting Timeline 2015 Figure 207 Reporting Overview Timeline View 9 2 1 Timeline A timeline highlighting the reporting deadlines in the user s selected countries will appear This is intended to highlight upcoming deadlines 9 2 2 Commentary In the Commentary section additional information about the reporting schedule and information about country specific reporting deadlines can be found This commentary is reserved for those jurisdictions which have multiple deadlines in order to clarify the contents of the timeline User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 35 SSS _ 9 2 3 Create PDF Clicking this button automatically creates a PDF file from the currently selected view This Report will be saved as a PDF file to the user s default download folder The Microsoft Windows default download folder is accessible via the path C Users lt UserName gt Downloads Please note that the PDF reports include the user s entire selection from the PwC CITT Compare Tool Customer Area Step 01 Country Selection
18. Tool Version 1 0 30 SSS _ a 9g Reporting Overview Within the Reporting Overview the user has the option to generate various FATCA and CRS overviews which can be retrieved as graphics or as a timeline The Reporting Overview provides a graphic representation of each country s CITT reporting status as well as details on the reporting requirements of FATCA UK FATCA and CRS in the selected jurisdictions including links to the information related to reporting from the IGA local legislation and guidance 9 1 Reporting Overview Map View O2 Type of Report View Reporting Overview y FATCA Reporting 3 z HE i January to 31 March G1 April to 30 June 1 July to 30 September GE Country is not available in the assigned package CRS Reporting Figure 183 Reporting Overview map view 9 1 1 World Map In this map information about the status of each country s CITT reporting status as well as details on the reporting requirements of FATCA UK FATCA and CRS in the selected jurisdictions The legend to the map can be found on the left side of the screen see Figure 183 point 3 and 4 User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 31 9 1 2 List of Countries A list of all countries is below the world map Users can scroll down to see the full list By clicking the country name or the colored indicator adjacent to the country name the user will access a single country overview
19. above does not constitute a professional service provided by the PwC firms granting access to the PwC CITT Compare Tool Accordingly to the maximum extent permitted by law no PwC firm makes any representations or provides any warranties in connection with any community space or its content Any use or reliance on any content of a community space is at the user s sole risk 5 Security User must e keep his her password secure and not disclose it to anyone else or allow anyone else to use it in connection with the PwC CITT Compare Tool e inform PwC immediately in the case of a lost password or knowledge or suspicion someone else may know or have access to it User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 6 Other terms If User does not comply with these terms and a PwC firm doesn t take action immediately this doesn t mean that or any other PwC firm gives up its right to take action in the future 2 Introduction The Customer amp Investor Tax Transparency Compare Tool provides relevant primary documentation including the U S regulations annexes maintained by the OECD and EU Directives as well as local regulation and guidance The CITT Compare Tool enables the user to obtain standardized overviews and reports the criteria of which are fixed and predetermined It further includes the option to Create Your Own Report which can be saved to the user s profile giving users the freedom
20. best de DE Stevern_ Int he Ah und _Datenuebermitthe ng_node_html jsessionid F79CA642 7210D0D2BFDAOBSFa7s70C AA FATCA Account Reporting on U S Reportable Account The term U S Reportable Account means a Financial Account maintained by a Reporting German Financial Institution and held by one or more Specified U S Persons or by a Non U S Entity with one or more Controlling Persons that is a Specified U S Person Notwithstanding the foregoing an account shall not be treated as a U S Reportable Account if such account a corporation the stock of which is regularly traded on one or more established securities markets ii any corporation that is a member of the same expanded affiliated group as defined in section 1471 e 2 of the U S Internal Revenue Code as a corporation described in clause i iii the United States or any wholly owned agency or instrumentality thereof iv any State of the United States any U S Territory any political subdivision of any of the foregoing or any wholly owned agency or instrumentality of any one or more of the foregoing v any organization exempt from taxation under section 501 a or an individual retirement plan as defined in section 7701 a 37 of the U S Internal Revenue Code vi any bank as defined in section 58 of the U S Internal Revenue Code vii any real estate investment trust as defined in section 856 of the U S Internal Revenue Code viii any regulated i
21. enter tax policy treaties Documents the occurrence of a specified FATCA Agreement Germany 5 31 contingency involving mortality 2013 pdf morbidity accident liability or property risk IGA Signature Date Financial Institution 31 05 13 N A Figure 287 Tabular Comparison View as PDF output Example Country Within the section Create Your Own Report the user will be able to select the specific criteria to be compared through the Create Your Own Report functionality In this case the user is free to select User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 47 3 from nearly 200 criteria along various categories e g Governance amp Compliance Scope Due Diligence Reporting and Withholding These criteria are categorized for easy navigating User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 48 ss 11 Terms Please be advised of the following terms the Terms regarding this user guide this User Guide All information in this User Guide is subject to change at any time without notice and is provided for convenience purposes only PwC Germany reserves the right to modify or revise this User Guide in its sole discretion and at any time The user agrees to be bound by any modifications and or revisions Contact the PwC Support Team for up to date information No PwC firm warrants the accuracy or completeness of the information
22. individual countries from the list below the maps The Reporting Overview provides a graphic representation of each country s CITT reporting status as well as details on the reporting requirements of FATCA UK FATCA and CRS in the selected jurisdictions including links to the information related to reporting from the IGA local legislation and guidance Within the Reporting Overview the User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 Ss _ user has the option to generate reporting timelines which can be retrieved graphically in a timeline or in table format The Create Your Own Report feature allows users to build a personalized report from the user s selection of criteria from any of the available information within the tool Accordingly the user is free to generate tailored reports fitting any specific requirements These reports be saved as personal settings and re run in the future e g as new information becomes available from jurisdictions Users may choose specific criteria which are conveniently sorted by topic Therefore users are able to compare the selected countries to the Base Country within each single criterion 3 Getting Started In order to get started please log in to the PwC CITT Compare Tool To do so start by going to www citt pwe de s s O Site P der information Welcome to the Customer amp Investor Tax Transparency Compare Tool Please log in below t
23. information At the top of each column a filter is available User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 27 SS _ 8 2 2 Filter Option In the initial view the user may find it convenient to filter within columns and further target the comparison Therefore a filter button is available on the right hand side of each column header In the initial view the user can filter out specific items in each respective criteria column see Figure 20 E n pwe Customer amp Investor Tax Transparency Compare Tool 1 muy Status Overview Y Copy of signed IGA YT IGA Signature Date Y Effective date ot T Is Most Favored Nation T Executed Tax Link to Exe 31 05 13 implementation of IGA Clause Applicable Information Exchange Informatio into local law Applicable Agreement TIEA with Agreemen the United States Jo httpwww treasury gowir policyreat aspx loc lt 436b 957e Jersey FATCA Agreement http Awww weasury govir http www weasury govir htphwww weasury govir X O Save My Settings O See My Settings Figure 15 Status Overview Tabular Comparison View Filter Option 8 2 2 1 Choose reported items of interest If the user would prefer to not have all of the available items listed he she may choose those items to be included into the list by setting or removing tick marks within the filter 8 2 2 2 Apply After manually altering the selection of listed items confirm the select
24. provided by or throughout this User Guide User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 49
25. the PwC CITT Compare Tool and its content e accepts no responsibility or liability of any kind to the users in connection with their use of the PwC CITT Compare Tool or its content Without limiting the above The PwC CITT Compare Tool may link to websites provided by other parties A PwC firm is not responsible for websites provided by others including those provided by other PwC firms and does not endorse or make any representations about them No professional relationship of any kind arises from a user s use of the PwC CITT Compare Tool 1 4 Other Terms amp Conditions for users of the Compare Tool These terms apply to the user s use of PwC CITT Compare Tool Each member firm in the PwC network PwC firm is a separate legal entity For further details please see www pwc com structure These terms operate as a separate agreement between you as an individual user User and each PwC firm that provides User with access to the PwC CITT Compare Tool Please read these terms carefully By using the system User agree to comply with them User may not use or continue to use PwC CITT Compare Tool unless User comply with them User can access these terms on PwC CITT Compare Tool at any time through the Terms of Use link 1 Changes User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 SS These terms were last changed on the date set out at the top of this page These terms may be changed at a
26. to Legislation Status of FATCA Guidance Link to Guidance FATCA UK FATCA Regulatory Authority FATCA UK FATCA Reporting Authority CRS Regulatory Authority Customer amp Investor Tax Transparency Compare Tool Clear All O s s s s CRS Reporting Authority Status of CRS Legislation Link to CRS Legislation Figure 243 Create Your Own Report Selection View 10 1 1 Criteria Selection Area Within the Criteria Selection Area the user may select the specific criteria to include in this unique report These criteria serve as the building blocks of the user s comparison In Figure 243 the user interface in the Criteria Selection Area is displayed This interface is organized into 15 categories according to thematic areas such as Contact Information Executive Summary and Status When clicking the toggle within the respective category section all the User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 42 SSS available criteria within this category will be displayed The user is free to select as many or as few criteria by checking the box adjacent to any criteria to be included within the user s own report The user s own report can be tailored precisely to particular user requirements At this point the user will be able to compare the countries selected in the PwC CITT Compare Tool Customer Area Step 01 Country Selection to the Base Country within each single criterion
27. 11 point 3 and 4 User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 23 8 1 2 List of Countries A list of all countries is below the world map Users can scroll down to see the full list By clicking the country name or the colored indicator adjacent to the country name the user will access a single country overview Customer amp Investor Tax Transparency Compare Tool Contact Status Overview Jersey Wendy Dorman Status 2 A ricewalerhouseCooper IGA Model Type a 37 E ade Status Copy of signed IGA IGA Signature Date Effective date of implementation of IGA into local law Is Most Favored Nation Clause Applicable Executed Tax Information Exchange Agreement TIEA with the United States Link to Executed Tax Information Exchange Agreement TIEA with the United States UK FATCA Applicable Link to relevant UK FATCA Agreement htip Awww gov je SteCo e 2and s20yours20money LDW20UK JerseyiIGA 2020131 108 pe 5 J UK FATCA Effective Date CRS CAA Date Signed CRS Status Link to relevant CRS Agreement CRS CAA Signed and Effective 1 1 2016 a Argentna Belgium Bermuda Br sh Virgin Islands Cayman Islands Anguilla Argentna rus Czec Republic Denmark Estonia Faroe tsiands Finland France Gibraltar Germany Greece Guernse ungary icetand irelan of Man Italy Korea Latvia Liechtenstein Lithuania Luxembourg alta Mauritiu exico Montse Nefhe Poland Porugal Romania
28. San Marino Slovak Republic Stovenia South Africa Spain Sweden Turks and Caicos islan United Kingdom Figure 12 Status Overview single country overview 8 1 2 1 Information Area Information about the status of implementation for FATCA UK FATCA and CRS in the selected country as well as links to the IGA IGA Model type IGA signature date status of local legislation and guidance are provided in this screen view with clickable links included 8 1 2 2 Contact Information Furthermore in case more details are required the respective contact information for PwC internal specialists for the relevant jurisdiction Clicking the mail address see Figure 104 point 2 above the flag will open a mail to the respective contact in the user s default e mail client It should be noted that additional local support is not included in the standard Compare Tool engagement letter User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 24 Sa 8 1 2 3 Create PDF By clicking the Create PDF button at the bottom of the page a PDF will automatically be created and begin downloading from the user s currently selected single country overview This report will be saved as a PDF file to the user s default download folder The Microsoft Windows default download folder is accessible via the path C Users lt UserName gt Downloads Status Overview V Jersey 2 IGA Model Type Model 14 CRS CAA
29. ance amp Scope Due Diligence Reporting Withholding and Penalties see Figure 10 point 1 Furthermore in case more details are required please find on the left hand side of each page the respective contact information for PwC internal experts Clicking the mail address see Figure 10 point 2 above the flag will open a mail to the respective contact in the user s default e mail client the affairs of a taxpayer commits one of the acts described in section Customer amp Investor Tax Transparency Compare Tool Executive Report 2015 04 08 Executive Report Implementation Timeline Jersey entered into a Model 1 IGA with United States on 13 December 2013 Jersey Institutions are allowed to decide whether they apply the timeline introduced by IRS Notice 2014 33in respect of new entity accounts Governance amp Scope Taxation Implementation International Tax Compliance United States Of America Jersey Regulations 2014 came into effect on 17 June 2014 Once a Jersey Financial Institution has obtained a GIIN and have established your reporting structure the group lead or sponsoring FI must register with the Jersey Competent Authority To register it will need to provide information including The FI s Name GIIN and Correspondence Address and contact details for an administration user Competent Authority FI Registration will be generally available from January 2015 and will be carried out by completing an online ap
30. arly traded on one or more established securities markets ii any corporation that is a member of the same expanded affiliated group as defined in section 1471 e 2 ofthe U S Internal Revenue Code as a corporation described in clause i iii the United States or any wholly owned agency or instrumentality thereof iv any State of the United States any U S Territory any political subdivision of any of the foregoing or any wholly owned agency or instrumentality of any one or more of the foregoing v any organization exempt from taxation under section 501 a or an individual retirement plan as defined in section 7701 a 37 of the U S Internal Revenue Code vi any bank as defined in section 581 of the U S U S Controlling Persons Holders Passive NFFE A Passive NFFE means any NFFE that is not i an Active NFFE or ii a withholding foreign partnership or withholding foreign trust pursuant to relevant U S Treasury Regulations No Q a a a a Crenit PDF Figure 29 Tabular Comparison View structured by country User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 No 28 SS The Base Country section can be collapsed by clicking the minus sign on the right hand side of the country header please note that in Figure the Base Country is Germany 9 3 2 Filter Option In the initial view the user may find it convenient to filter within columns a
31. d re run in the future e g as new information becomes available from jurisdictions Users may choose specific criteria which are conveniently sorted by topic Therefore users are able to compare the selected countries to the Base Country within each single criterion For this report the user may choose specific criteria which are conveniently sorted by topic 10 1 Create Your Own Report Selection Screen pwe Create Your Own Report Contact Information LETTS Seam eins Se Suey Executive Summar Status i oo Select All Clear All a Igpenfodel Type Status Copy of signed IGA IGA Signature Date Effective date of implementation of IGA into local law Is Most Favored Nation Clause Applicable Executed Tax Information Exchange Agreement TIEA with the United States Link to Executed Tax Information Exchange Agreement TIEA with the United States Governance amp Compliance Compliance control program requirement Local Responsible Officer Requirement Personal Liability of RO Local registration requirement Comments on local registration requirement E Save My Settings O See My Settings UK FATCA Applicable Link to relevant UK FATCA Agreement UK FATCA Effective Date CRSI CAA Date Signed CRS Status Link to relevant CRS Agreement CRS CAA Signed and Effective 1 1 2016 CRSI CAA Signed and Effective 1 1 2017 CRSI CAA Signed and Effective 1 1 2018 Status of FATCA Legislation Link
32. e Tabular Comparison View consists of 72 categories These categories provide more detail on FATCA UK FATCA and CRS reporting standards and requirements Additionally information about different jurisdictions and information about the necessary content of the respective reporting for all of the countries selected is included Also links to guidance on local reporting are conveniently accessible in this view Reporting Overview Tabular Comparison View Content Area 9 3 1 The Tabular Comparison View is structured in columns and rows Each of the countries which were selected in the PwC CITT Compare Tool Customer Area is displayed in a separate row This view of the Reporting Overview provides the Base Country section already opened and the other selected countries expandable sections closed The column structure entails 72 categories as links to reporting status as well as details on the reporting requirements of FATCA UK FATCA and CRS in the selected jurisdictions including links to the information related to reporting from the IGA local legislation and guidance At the top of each column a filter is available E pwe Switch View J t Germany Customer amp Investor Tax Transparency Compare Tool Reporting Overview FATCA Account FATCA Reporting on Reporti Recalcitrant Account Accoun FATCA Account Reporting on Passive NFFEs with FATCA Account Reporting on U S Reportable Account FATCA Account
33. eft hand View column Different jurisdictions are shaded depending on their implementation schedule User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 25 SSS _ 8 1 5 Create PDF Clicking this button automatically at the top of the page creates a PDF file containing the Status Overview world map This will be saved as a PDF file to the user s default download folder The Microsoft Windows default download folder is accessible via the path C Users lt UserName gt Downloads Please note that the PDF report includes the user s entire selection from the PwC CITT Compare Tool Customer Area Step 01 Country Selection Status Overview Customer amp Investor Tax Transparency Compare Tool Status Overview 2015 04 13 Status Overview Figure 14 Status Overview as PDF output world map view 8 1 6 Next Clicking Next directs the user to the Tabular Comparison View of the countries selected in Compare Tool Customer Area Step 01 Country Selection User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 26 Ss S _ 8 2 Status Overview Tabular Comparison View The Tabular Comparison View provides more detail on the implementation of FATCA UK FATCA in the countries selected in PwC CITT Compare Tool Customer Area Step 01 Country Selection IGA signature dates links to official documents such as IGAs and local legislation as well as names
34. elgium Bermuda British Virgin Islands Cayman Islands Colombia Croatia Curacao Cyprus FATCA UK FATCA Reporting Authority States of Jersey CRS Regulatory Authority States of Jersey Czech Republic Denmark Estonia Faroe Islands Finland France Gibraltar Germany Greece Guernsey Hungary Iceland Ireland Isle of Man Italy Korea Latvia Liechtenstein Lithuania Luxembourg Malta Mauritius CRS Reporting Authority States of Jersey Status of CRS Legislation Link to CRS Legislation Mexico Montserrat Netherlands Norway Poland Portugal Romania San Marino Slovak Republic Slovenia South Africa Spain Sweden Switzerland Turks and Caicos Islands United Kingdom Status of FATCA Legislation Legislation in Place Link to Legislation http www jerseviaw je law Displa yv aspx url law LawsInForce htm ROFiles R 260Ycar2014 R 260 0 69 2014 pdf Status of FATCA Guidance Guitance in draft Link to Guidance aments Taxs2oand 20oyour izom onev ID 201GADraftGuidanceNote 2 2020140729 20LE pdf Customer amp Investor Tax Transparency Compare Tool Status Overview 2015 04 09 Status Overview Netherlands IGA Model T aa ype UK FATCA Effective Date N A Status Signed Copy of signed IGA CRS CAA Date Signed 29 10 14 CRS Status Signed for Figure 17 Tabular Comparison View as PDF output Example Country User Guide PwC Customer amp Investor Tax Transparency Compare
35. eline J Governance amp Scope gt Oue diligence i On 31 May 2013 the United eral A n addition to gene O Save My Settings J See My Settings Figure 254 Create Your Own Report Tabular Comparison View 10 2 1 Tabular Comparison View Content Area The Tabular Comparison View is structured in columns and rows Each of the countries that were selected in the PwC CITT Compare Tool Customer Area Step 01 Country Selection is displayed in a separate row This view of Your Own Report provides the Base Country section already opened and the other selected countries expandable sections closed The Base Country section can also be collapsed by clicking the minus sign on the right hand side of the country header please note that in Figure 254 the Base Country is Germany The column structure entails all the categories that were selected in the Criteria Selection Area At the top of each column a filter is available 10 2 2 Filter Option In the initial view the user may find it convenient to filter within columns and further target the comparison Therefore a filter button is available on the right hand side of each column header In the initial view the user can filter out specific items in each respective criteria column see Figure 265 User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 44 Customer amp Investor Tax Transparency Compare Tool T Create Your Own Report 3 Implem
36. entation Timeline 4 Governance amp Scope J Due dibgence 4 IGA Model Type 4 Status 4 gt In addition to general No standard form of selt Model 1A Signed certification was or ts expected to be provided by the BZSt Certain selt On31 May 2013 the man IGA as well as fro certification examples were Unite ATCA US y the provided by the leader banks Jersey entered into a mc Mo On 18 December 2013 the On February 14 ratification December 2013 On 23 July i er 2013 On 2 2014 FATCA Implementation Regulation FATCA USA UmsV entered into force Reporting German Fis should O Save My Settings O See My Settings Back Create PDF Figure 265 Tabular Comparison View Filter Option 10 2 2 1 Choose reported items of interest If the user would prefer to not have all of the available items listed he she may choose those items to be included into the list by setting or removing tick marks within the filter 10 2 2 2 Apply After manually altering the selection of listed items confirm the selection by clicking the Apply button at the top of the filter box 10 2 3 Reset Filter After having selected one or more filters within the Tabular Comparison View the user may find it helpful to return to the initial state where no filters are set In order to do so simply click the Reset Filter button 10 2 4 Switch View Clicking the Switch View button interchanges columns and rows User Guide PwC Customer amp
37. entation that is false or misleading when complying with the regulations the penalty can be a period of imprisonment up to 2 years and a fine Customer amp Investor Tax Transparency Compare Tool Executive Report 2015 04 08 Figure 10 Executive Report as PDF output Example Country User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 22 Sa _ 8 Status Overview The Status Overview provides a graphic representation of each country s CITT status as well as details on the status of implementation of FATCA UK FATCA and CRS in the selected jurisdictions including links to the IGA IGA Model type IGA signature date status of local legislation and guidance and list of countries with which the jurisdiction has CRS agreements in place Country specific Status Overviews are available by clicking on individual countries from the list below the maps 8 1 Status Overview Map View oie Customer amp Investor Tax Transparency Compare Tool View Status Overview E FATCA UK FATCA 3 HMM No Model No UK FATCA GN Model 1 No UK FATCA Model 1 UK FATCA GME Model 2 No UK FATCA Model 2 UK FATCA GE Country is not available in the assigned package El Save My Settings EI See My Settings 8 1 1 World Map In this map information about the status of implementation of FATCA UK FATCA and CRS is visualized The legend to the map can be found on the left side of the screen see Figure
38. ide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 39 i 9 3 3 1 Show Hide Content Customer amp Investor Tax Transparency Compare Tool O2 Type of Report v O3 View Report Reporting Overview Close Show Hide Content ees countries Criteria ee Germany Jersey Germany 7 Has guidance been issued on local reporting Yes NIA Jersey p 9 A Comments regarding guidance Netherlands on local reporting Switzerland Link to guidance on local FATCA Account Reporting on Germany Jersey Netherlands Switzerland U S Reportable Account FATCA Account Reporting on Reporting under the FATCA NIA Dutch FATCA Guidance was Guidance in is pla Agreement are avaitable for published 22 January 2015 offcial guidance ri individual data reporting and however a O amp A di FATCA Account Reporting on mass data reporting was issued by the Passive NFFEs with electronically individual data Please note only t U S Controlling Persons Specified U S Persons transmission BZStOniine version has been FATCA Account Reporting on portal Individual reporting Recalcitrant Account Holders will be possible via the FATCA Account Reportng on BZStOntine portal Once the Additional Account Holders delivery is possible in an online a notification will be made Mass data transmission ELMA The data is exchanged in XML format and is carried out in mformation to be reported in the an automated process using 2015 Reporting Year the ELMA inte
39. ion by clicking the Apply button at the top of the filter box 8 2 3 Switch View Clicking the Switch View button interchanges columns and rows User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 28 N 8 2 3 1 Show Hide Content pwc Customer amp Investor Tax Transparency Compare Tool Status Overview EN Close D countries Criteria Germany Switzerland A Germany v IGA Model Type Netherlands s Copy of signed IGA A Switzeriand IGA Signature Date N oor Z Enectve date ot implementaron of IGA into local law Model 1A Model 2 with TIEA Jersey Status s is Most Favored Nation Clause Applicable Executed Tax information Exchange Agreement TIEA with the United States Link to Executed Tax information Exchange Agreement TIEA with the United States UKFATCA Applicable Link to relevant UK FATCA Agreement s UKFATCA Effective Date si CRSI CAA Date Signed CRS Status Link to relevant CRS Agreement CRSICAA Signed and Effective 1 1 2016 CRSICAA Signed and Effective 1 1 2017 CRSICAA Signed and Effective 1 1 2018 Status of FATCA Legisiation s Link to Legislation O Save My Settings O See My Settings Back Create PDF y g y g Figure 161 Tabular Comparison View Show Hide Content Through the Show Hide Content button in the upper right corner users may open an overlay window see Figure 16 containing the listed countries a
40. n closes this view and returns the user to the previous screen 4 5 2 6 Delete Selection To delete previously saved settings first select the report to be deleted from the dropdown menu Clicking the Delete selected button then deletes the entry 4 5 2 7 Close Clicking the Close Button closes this view and returns the user to the previous screen User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 16 5 Country Selection After log in the user will enter the PwC CITT Compare Tool Country Area The usage of the tool is structured into three steps 01 Country 02 Type of Report and 03 View Report pwe Customer amp Investor Tax Transparency Compare Tool o2 et Base Country Countries regions of interest Search Models Americas Europe Austria euam enan Switzerland United Kingdom France Middle East Asia Pacific E Save My Settings ennannm enuannn enndannn Figure 7 PwC CITT Compare Tool Customer Area 51 Base Country In this step the user may choose the country that will be the basis for the user s comparisons The user may either find the Base Country directly by typing within the search function or by selecting from the list below the search bar The selected country will be highlighted in red 5 2 Confirm Selection The user must confirm this selection prior to selecting Countries regions of interest by clicking the button Confirm Selection
41. nd criteria By setting or removing tick marks the user may change the list of presented countries and or criteria 8 2 4 Create PDF Clicking this button automatically creates a PDF file from the user s currently selected view This Report will be saved as a PDF file to the user s default download folder The Microsoft Windows default download folder is accessible via the path C Users lt UserName gt Downloads Please note that the PDF reports include the user s entire selection from the PwC CITT Compare Tool Customer Area Step 01 Country Selection 8 2 4 1 Structure of the Status Overview as PDF output The created PDF file is structured alphabetically according to the selected countries always beginning with the Base Country User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 29 Ss 8 2 4 2 Country View of the Status Overview as PDF output As in the initial screen view see Figure the PDF report lists information for each country The PDF document will contain an overview containing 27 categories such as links to IGAs IGA signature dates and CRS information Status Overview Jersey San Marino Slovak Republic Slovenia South Africa Spain FATCA UK FATCA Regulatory Authority Sweden Switzerland Turks and States of Jersey Caicos Islands United Kingdom CRS CAA Signed and Effective 1 1 2018 Albania Anguilla Argentina Aruba Austria B
42. nd further target the comparison Therefore a filter button is available on the right hand side of each column header In the initial view the user can filter out specific items in each respective criteria column see Figure 22 pwe Customer amp Investor Tax Transparency Compare Tool 08 eft 1 Py Reporting Overview Comments regarding Link to guidance on local T FATCA Account FATCA Account T FATCA Account FATCA Account issued on local guidance on local Reporting on U S Reporting on Specified Reporting on Passive Reporting on reporting Reportable Account NFFEs with Recalcitrant Account 5 A U S Controlling Persons Holders FATCA The term U S Reportable 0 ans vane ie ayailable for r means a Financial g 4 Passive NFFE A Passive No NFFE means any NFFE that is mot i an Active NFFE_ or i a withholding foreign https zoek officielebek https Awww sift admin ch rw Whe rs E lt Figure 220 Tabular Comparison View Filter Option 9 3 2 1 Choose reported items of interest If the user would prefer to not have all of the available items listed he she may choose those items to be included into the list by setting or removing tick marks within the filter 9 3 2 2 Apply After manually altering the selection of listed items confirm the selection by clicking the Apply button at the top of the filter box 9 3 3 Switch View Clicking the Switch View button interchanges columns and rows User Gu
43. nvestment company as defined in section 851 of the U S Internal Revenue Code or any entity registered with the Securities Exchange Commission under the Investment Company Act of 1940 15 U S C Boa 64 ix any common trust fund as defined in section 584 a of the U S Internal Revenue Code x any trust that is exempt Customer amp Investor Tax Transparency Compare Tool Reporting Overview 2015 04 10 Reporting Overview E Germany from tax under section 664 of the U S Internal Revenue Code or that is described in section 4947 a 1 of the U S Internal Revenwe Code xi a dealer in securities commodities or derivative financial instruments including notional principal Name address and TIN of each specified U S Person who is an account bolder Account balance or value as of the end of the relevant calendar year or if the account was closed after the effective date of the FFI agreement the balance or value Figure 232 Reporting Overview as PDF output Comparison View User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 41 10 Create Your Own Report The Create Your Own Report feature allows users to build a personalized report from the user s selection of criteria from any of the available information within the tool Accordingly the user is free to generate tailored reports fitting any specific requirements These reports be saved as personal settings an
44. ny further also additionally with BZSt to agreements for the exchange of tax ensure the technical transmission of information have been implemented the data to the IRS unless they have through the AIFM Tax Adjustment already registered with BZSt for Act AIFM Steveranpassungsgesetz other purposes and obtained into the new Section 117 of the BZSt Nummer and German Fiscal Code BZStOnline Portal Abgabenordnung which came into BOP Zertifikat Registration with force on 24 December 2013 On 23 BZSt is expected to be available in July 2014 FATCA Implementation April 2015 Regulation FATCA USA UmsV entered into force Reporting German Fis should perform first US Due diligence No standard form of self certification was or is expected to be provided by the BZSt Certain self certification examples were provided by the leader banks on the German market reportable account reporting by 31 July 2015 German tax authority did not refuse to use 1 January 2015 as a new entity account opening cut off date as provided under the IRS Notice 2014 33 Further guidance is IGA Model Type expected through the FATCA BMF Model 1A Schreiben German industry associations have not released any Status additional guidance or Signed implementation guidelines for its X n members German market players lt opy afpa rA Customer amp Investor Tax Transparency Compare Tool Create Your Own Report 2015 04 11 Create Your Own Report Germany
45. ny time by an updated version being published on PwC CITT Compare Tool User can access the latest version of these terms at any time through the Terms of use link If User continue to use PwC CITT Compare Tool after a change is made User s continued use confirms acceptance of the change 2 The user s conduct on the system When using any part of PwC CITT Compare Tool User must comply with these terms and with all applicable laws and regulations and User must not a Provide user names and passwords to any unauthorized user b Except to the extent permitted by law copy modify work around by pass reverse engineer or otherwise change the PwC CITT Compare Tool or its underlying data systems or software or attempt to do so In case of non compliance with the terms above the right to use the PwC CITT Compare Tool may be terminated with immediate effect 3 Monitoring A PwC firm which provides User with access to the PwC CITT Compare Tool may monitor User s use of the PwC CITT Compare Tool from time to time but no PwC firm is obliged to do so If a PwC firm monitors the User s use of the PwC CITT Compare Tool it will do so in accordance with applicable law including engaging others to monitor on its behalf where permitted 4 Passwords Passwords might be changed on a frequent basis Authorized Users would be notified promptly of such change The provision of certain information via the PwC CITT Compare Tool as outlined
46. o access our CITT Compare Tool including a variety of reports intended to assist you with managing global compliance in tax transparency matters Confirm Trouble logging in CITT_accessm de pwe com Figure 1 Log in Screen 3 1 Log in Follow the instructions on the welcome page see Figure 1 and enter a username and password It is also necessary to check the box to confirm the user s agreement with the Disclaimer and Term amp Conditions for use of the Compare Tool Next press Enter or click the Confirm button below User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 3 3 2 Contact The contact link on the right hand side automatically creates a blank e mail to the Compare Tool User Management team CITT_Access de pwe com in the user s default e mail client Please use this link to communicate with Compare Tool User Management team if there are any difficulties with log in 3 3 Site Provider Information By clicking on the Site Provider Information link the user will be directed to the general site provider information and further Company information on the pwc de website 3 4 Confirm By clicking on this button the user will confirm the entered username and password as well as the user s agreement with the Disclaimer and Term amp Conditions and be directed to CITT Compare Tool Customer Area User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1
47. of local regulators are conveniently accessible in this view Provider Information pwe Customer amp Investor Tax Transparency Compare Tool Status Overview Germany _ IGA Model Type Y Status Copy of signed IGA Y IGA Signature Date Effective date of Y Is Most Favored Nation Y Executed Tax Link to Exe implementation of IGA Clause Applicable Information Exchange Informatio into local law Agreement TIEA with Agreemen ee Applicable the United States the United policy treaties Documents FA 11 12 13 TCA Agreement Germany 5 Yes http www 31 2013 pdf rce centerA policy treat aspx loc 436b 957e Model 1A http www treasury gov resou 31 05 13 a a a E Save My Settings KI See My Settings Back Create PDF Figure 19 Status Overview Tabular Comparison View structured by country 8 2 1 Tabular Comparison View Content Area The Tabular Comparison View is structured in columns and rows Each of the countries that were selected in the PwC CITT Compare Tool Customer Area are displayed in a separate row This view of the Status Overview provides the Base Country section already opened and the other selected countries expandable sections closed The Base Country section can also be collapsed by clicking the minus sign on the right hand side of the country header please note that in Figure the Base Country is Germany The column structure entails 27 categories such as links to IGAs IGA signature dates and CRS
48. of the Status Overview as PDF output As in the Tabular Comparison View see Figure 232 the PDF report consists of 72 categories For each country the PDF document provides detail on FATCA UK FATCA and CRS reporting standards and requirements Additionally information about different jurisdictions and information about the necessary content of the respective reporting for all of the countries selected in PwC CITT Compare Tool Customer Area step 01 Country Selection is included Also links to guidance on local reporting are conveniently accessible in this document Reporting Overview Germany Has guidance been issued on local reporting Yes is not identified as a U S Reportable Account after application of the due diligence procedures in Annex I Comments regarding guidance on local reporting Reporting under the FATCA Agreement are available for FATCA Account Reporting on Specified U S Persons The term Specified U S Person means a US Person other than i individual data reporting and mass data reporting electronically Individual data transmission BZStOnline portal Individual reporting will be possible via the BZStOnline portal Once the delivery is possible in an online a notification will be made Mass data transmission ELMA The data is exchanged in XML format and is carried out in an automated process using the ELMA interface for mass data Link to guidance on local reporting hitp www
49. ovided by the leader banks insttution may implement this selt certfication e than funds List on the German market form into their onboarding FATCA that are ay Pension Funds of an Exempt processes as long as the be used but are r Beneficial Owner structure and questions of the to be used by Sw form remain the same in Financial insttutio practice both the Dutch selt Financial instituton certification form as the US Z Financial institution W 8 and W 9 forms are used by the Financial institutions requirement Financial institution insurance Contract c gt O Save My Settings O See My Settings Create PDI y g y g Figure 276 Tabular Comparison View Show Hide Content 10 2 5 Create PDF Clicking this button automatically creates a PDF file from the currently selected view This Report will be saved as a PDF file to the user s default download folder The Microsoft Windows default download folder is accessible via the path C Users lt UserName gt Downloads Please note that the PDF reports include the user s entire selection from the PwC CITT Compare Tool Customer Area Step 01 Country Selection User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 46 10 2 5 1 Structure of the Status Overview as PDF output The created PDF file is structured according to the selected countries beginning with the Base Country In each country s section You
50. plication that will be available on States of Jersey Internet Portal Due diligence No standard form of self certification was or is expected to be provided Reporting http www gov je SiteCollectionDo cuments Tax 20and 20vour 20m oney ID 20US IGA 201T 20 guid ance 20notes 2020140804 20LB pdf Reporting Jersey FIs should perform their first US reportable account reporting by 30 June 2015 Guidance notes about the process can be found at this link Withholding Withholding is required to the extent that a Reporting Jersey Finaricial Institution is i acting as a qualified intermediary atid has elected to assume primary withholding SPonsibility under chapter 3 of subtitle A of the U S Internal Revenue Code ii a foreign partnership that has elected to act as a withholding foreign partnership for purposes of both sections 1441 and 1471 of the U S Internal Revenue Code or iii a foreign trust that has elected to act asa withholding foreign trust for purposes of both sections 1441 and 1471 of the U S Internal Revenue Code In these cases the Reporting Jersey Financial Institution is required to withhold 30 percent of any U S Source Withholdable Payment to any Nonparticipating Financial Institution Penalties Penalties of 250 can be levied for the late filing of a return For a failure to comply with any of the regulations further fines can be charged Where a person provides information or docum
51. r Own Report also includes all the criteria selected in the Criteria Selection Area 10 2 5 2Country View of the Status Overview as PDF output As in the Tabular Comparison View see Figure 254 Figure the PDF report lists for each country information about all the selected and individual content selected in the previous steps Create Your Own Report Germany PwC Contact Person Dr Karl K pper expect that the German tax authority introduces further guidance through E Mail Address a BMF Schreiben expected in the karl kuepperd de pwc com course of Spring 2015 Governance amp Scope implementation Timeline In addition to general comments an On 31 May 2013 the United States the requirements for Reporting and Germany signed a Model 1A IGA German Fis arising from the on the implementation of FATCA German IGA as well as from legislation providing for a reciprocal FATCA USA UmsV the Federal automated exchange of tax Central Tax Office BZSt provides information accompanied by a information for German FIs to Declaration of Understanding On 16 register with BZSt Consequently October 2013 the corresponding act Reporting German Fis that maintain of ratification Zustimmungsgesetz U S reportable or NPFFI accounts and on 11 December 2013 the are not only obliged to register in German IGA itself came into force accordance with FATCA for data The provisions implementing FATCA transmission on the IRS Portal but and eventually a
52. rface for mass nformation to be reported in the data 2016 Reporting Year FATCA Account Reporting on NPFFI Account Holders Transitional Reporting Required under FATCA information to be reported in the 2017 Reporting Year and onward Z Administrative Data to be reported with Account Reporting in any year Recipientis Dg O Save My Settings O See My Settings Create PDF Figure 1 Tabular Comparison View Show Hide Content Through the Show Hide Content button in the upper right corner users may open an overlay window see Figure 1 containing the listed countries and criteria By setting or removing tick marks the user may change the list of presented countries and or criteria 9 3 4 Create PDF Clicking this button automatically creates a PDF file from the currently selected view This Report will be saved as a PDF file to the user s default download folder The Microsoft Windows default download folder is accessible via the path C Users lt UserName gt Downloads Please note that the PDF reports include the user s entire selection from the PwC CITT Compare Tool Customer Area Step 01 Country Selection 9 3 4 1 Structure of the Status Overview as PDF output The created PDF file is structured according to the selected countries beginning with the Base Country User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 40 SSS _ 9 3 4 2 Country View
53. s identified as having one or more Controlling Persons that is a Specified U S Person the name address and U S TIN if any of such entity and each such Specified U S Person 2 the account number or functional equivalent in the absence of an account number 3 the name and identifying number of the Reporting Jersey Financial Institution 4 the account balance or value including in the case of a Cash Value Insurance Contract or Annuity Contract the Cash Value or surrender value as of the end of the relevant calendar year or other appropriate reporting period or if the account was closed during such year immediately before closure Information to be reported in the 2016 Reporting Year All of the above plus 6 in the case of any Depository Account the total gross amount of interest paid or credited to the account during the calendar year or other appropriate reporting period and 7 in the case of any account not described in subparagraph 2 a 5 or 2 a 6 of this Article the total gross amount paid or credited to the Account Holder with respect to the account during the calendar year or other appropriate reporting period with respect to which the Reporting Customer amp Investor Tax Transparency Compare Tool Reporting Overview 2015 04 13 Reporting Overview Jersey Figure 25 Reporting Overview as PDF output single country view Jersey Financial Institution is the obligor or debtor including the
54. s including links to the information related to reporting from the IGA local legislation and guidance Within the Reporting Overview the user has the option to generate various FATCA and CRS overviews which can be retrieved as graphics or as a timeline Clicking the Select button guides the user to the Reporting Overview 6 4 Create Your Own Report The Create Your Own Report feature allows users to build a personalized report from the user s selection of criteria from any of the available information within the tool Accordingly the user is free to generate tailored reports fitting any specific requirements These reports be saved as personal settings and re run in the future e g as new information becomes available from jurisdictions Users may choose specific criteria which are conveniently sorted by topic Therefore users are able to compare the selected countries to the Base Country within each single criterion For this report the user may choose specific criteria which are conveniently sorted by topic User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 20 ee 7 Executive Report The Executive Report provides an overview of the regulatory and operational environment in each jurisdiction with regard to Customer amp Investor Tax Transparency Therefore these could act as internal status updates a tool for onboarding team members or communication to steering committees It conveniently summarizes
55. scope and enactment of current legislation and implementation timeframes in one document 7 1 Executive Report Content Area Once the user selects the Executive Report view a PDF will automatically begin downloading This Report will be saved as a PDF file to the user s default download folder The Microsoft Windows default download folder is accessible via the path C Users lt UserName gt Downloads Please note that the PDF reports include the user s entire selection from the PwC CITT Compare Tool Customer Area Step 01 Country Selection 7 1 1 Structure of the Executive Report as PDF output The created PDF file is structured alphabetically according to the selected countries always beginning with the Base Country see Figure 9 Executive Report Table of Contents Welcome to the CITT Tool Executive Report Pa NUNN A S 3 CITT Executive Report Country Guide IIIT EEE AEE EE EEA LEEA E EAN E EAI EE AES EEEL ALEL E AAEREN er NIL Nee A EE ee RO ee RD PR ee eT 7 reer o secede ecco ails males ents eta pce EL SEE AEE SAES EASE EN E EEE DEL AE NE ENEE E TE AE AAE 9 Coa E rr 11 Figure 9 Executive Report as PDF output Table of Contents User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 21 Ss 7 1 2 Country View of the Executive Report as PDF output The PDF report lists each country s information according to six categories Implementation Timeline Govern
56. tings Customer amp Investor Tax Transparency Compare Tool ase ountry a a electe ersey Netherlands e Switzerland e United Kingdom 7 iy Countries z 3 A a 3 electe eportin erview z o a 7 Figure 4 Save My Settings Screen selected example view 4 5 1 1 Name The user may name the saved report as desired The selected profile as well as the settings linked to it will only be available on the particular user s profile and not seen by other users 4 5 1 2 Base Country This field displays the Base Country selected and confirmed by the user 4 5 1 3 Selected Countries This field displays the countries which the user selected as reference countries in the 01 Countries area of the in the Compare Tool 4 5 1 4 Selected Type of Report The type of report overview that the user previously selected is displayed In the event the user has not yet selected any type of report this field will display the Status Overview as the current report 4 5 1 5 Save Cancel By clicking the Save button the user s current status will be saved to the user profile Save can only be clicked after a name has been given to the report Clicking the Cancel button closes this view and returns the user to the previous screen 4 5 1 6 Close Clicking the Close button closes this view and returns the user to the previous screen User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 14 SS 4 5
57. to tailor their searches based on individual needs Based on a 2 step alert process the user is made aware of regulatory changes in an efficient manner and is notified when the Compare Tool is updated to reflect these changes This should act as a reminder for users to run new searches or re run saved searches as well as to inform stakeholders of impacts to their institutions In order for these changes to take effect it may be necessary to refresh the tool by pressing CNTL F5 button on the keyboard in order to clear the browser s cache The Compare Tool consists four types of reports The Executive Report provides the user with an overview of the regulatory and operational environment in each jurisdiction with regard to Customer amp Investor Tax Transparency Therefore these could act as internal status updates a tool for onboarding team members or communication to steering committees It conveniently summarizes scope and enactment of current legislation and implementation timeframes in one document The Status Overview provides a graphic representation of each country s CITT status as well as details on the status of implementation of FATCA UK FATCA and CRS in the selected jurisdictions including links to the IGA IGA Model type IGA signature date status of local legislation and guidance and list of countries with which the jurisdiction has CRS agreements in place Country specific Status Overviews are available by clicking on
58. user s default e mail client It should be noted that additional local support is not included in the standard Compare Tool engagement letter User Guide PwC Customer amp Investor Tax Transparency Compare Tool Version 1 0 32 SS 9 1 2 3 Create PDF Clicking this button automatically creates a PDF file from the currently selected single country overview This Report will be saved as a PDF file to the user s default download folder The Microsoft Windows default download folder is accessible via the path C Users lt UserName gt Downloads Reporting Overview Jersey Has guidance been issued on local reporting N A Comments regarding guidance on local reporting N A Link to guidance on local reporting FATCA Account Reporting on U S Reportable Account Yes FATCA Account Reporting on Specified U S Persons Yes FATCA Account Reporting on Passive NFFEs with U S Controlling Persons Yes FATCA Account Reporting on Recalcitrant Account Holders Yes FATCA Account Reporting on Additional Account Holders No FATCA Account Reporting on NPFFI Account Holders Yes Transitional Reporting Required under FATCA No Information to be reported in the 2015 Reporting Year 1 the name address and U S TIN of each Specified U S Person that is an Account Holder of such account and in the case of a Non U S Entity that after application of the due diligence procedures set forth in Annex I i
59. vigation bar The selectable reports are displayed in the initial screen view By clicking the respective Select button the individual report is generated see Figure 8 Customer amp Investor Tax Transparency Compare Tool O1 Country v O2 Type of Report O3 View Report Executive Report Status Overview 2 This report provides an overview of the current regulatory status in the selected junsdic ons focusing on local implementation This owe ides graphic over guidance relevant Pmelines governance considerations and market specific insights verview provid i verview of each country s CITT status as well as de paart Satus of implementati a FATCA UK FATCA and CRS in Me selected punsdictions including a lyn doin Tea IGA Model ype IGA signature Gate s focal jegistation and guidance and list of counties ma wren he jurisdiction has CRS agreements in place Select Reporting Overview Create Your Own Report This overview provides timelines on FATCA UK FATCA and CRS reporting and details on the data to be reported data This report is created as a result of the user s selection of crena fom any of the available information in the tool ansmisson channels and format recipient and other relevant requirements fee to choose any criteria generate tailored reports fitting the users needs These reports can be saved in the use rote to easily de re run in the future Select a a a QA B a B a 1 Q Select L B Ae B Me L B e

User Guide - Customer & Investor Tax Transparency Compare Tool

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User Guide - Customer &amp; Investor Tax Transparency Compare Tool

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User Guide - Customer & Investor Tax Transparency Compare Tool