Markit Releases Solution for CRS Requirements
Tool built off Markit's Fatca framework.
Markit's CRS solution was build based on the framework already in place from its Foreign Account Tax Compliance Act (Fatca) solution, which has been in production for years. Cyrus Daftary, CEO of Markit | CTI Tax Solutions tells WatersTechnology that while the two regulations share similar data requirements, there are several differences. For example, Fatca self-certifications don't work for CRS and vice versa. To solve for this, the idea was to create a self-certification that solves for both
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