Tag: Taina Technology

Since its launch in 2014, the Common Reporting Standard (CRS) has been a pivotal framework for the automatic exchange of financial account information globally, established by the Organisation for Economic Co-operation and Development (OECD).

The Cayman Islands’ Department for International Tax Cooperation (DITC) has announced plans to strengthen its enforcement of the Common Reporting Standard (CRS).

TaxBit and TAINA Technology, two industry-leading tax compliance solutions providers, have announced a strategic partnership to deliver a comprehensive end-to-end tax reporting solution for the digital economy.

The Common Reporting Standard (CRS) has significantly impacted financial institutions (FIs) globally, aiming to enhance tax transparency and cooperation among jurisdictions. Taiwan's Ministry of Finance, in a report issued in May 2024, highlighted several ongoing deficiencies in Taiwanese financial institutions' adherence to these requirements.

RegTech has transformed how institutions approach their regulatory responsibilities. By reducing manual tasks, cutting costs, and sometimes enhancing customer experience, RegTech is increasingly becoming an integral tool in various industries.

In order to ensure compliance with regulations and guidelines that govern the financial industry, it is vital to monitor regulatory changes.

For financial services companies that are looking to ensure a strong level of stability and regulatory compliance, technology is continuing to come up trumps as the route for them to become more efficient and effective.

TAINA Technology recently took the opportunity to explain how businesses can build a strong information security-aware culture. 

On March 3, 2023, the Internal Revenue Service (IRS) rolled out new instructions for the 2023 version of Form 1042-S.

Fulfilling reporting obligations is not always easy for regulated companies, but knowing what mistakes to look out for can, at least, lighten the burden ever so slightly.