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dc.description.abstractThe main aim of the research was to evaluate OECD’s Common Reporting Standard (CRS) and investigate its implementation in the time frame given to Malta as a jurisdiction by the EU. CRS’s main goal is to reduce and eventually eliminate tax evasion. It would do so by making sure all Financial Institutions (FIs) have the necessary information from clients in order to produce reports in time. Consecutively, this would lead to the Automatic Exchange of Information when necessary between different jurisdictions. In the research done, the Foreign Accounting Tax Compliance Act (FATCA), was also reviewed since CRS was built on FATCA but on a global scale. To help verify research, interviews were conducted with participants of various Financial Institutions. Their option regarding both FATCA and CRS were then evaluated. The study concluded that even though CRS is still in its induction stage participants are optimistic that CRS will strive with its intention. FATCA was the foundation which helped CRS develop awareness and preparation. This study supports the general idea of participants that CRS was implemented in too short a time frame, creating limitations for FIs. These institutions, however managed to overcome the difficulties to implement such a vast standard within a limited time period.en_GB
dc.subjectTax evasionen_GB
dc.subjectFraud -- Preventionen_GB
dc.subjectTax administration and procedure -- International cooperationen_GB
dc.subjectDisclosure of information -- Law and legislationen_GB
dc.titleUnderstanding the common reporting standard : implications and the way forwarden_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.publisher.institutionUniversity of Maltaen_GB
dc.publisher.departmentFaculty of Economics, Management & Accountancy. Department of Banking & Financeen_GB
dc.contributor.creatorMifsud, Gabriella-
Appears in Collections:Dissertations - FacEma - 2016
Dissertations - FacEMABF - 2016

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