The CTO team at NatWest International doesn't offer advice but we're here to help you understand how international tax regulations and practices have changed the way in which information is gathered on our customers and reported to tax authorities, as well as our commitments to those regimes. We deliver, maintain and continually improve compliant operational tax services.
To combat tax evasion and avoidance, many governments now investigate where their citizens hold overseas assets. So while we were initially focused on supporting the bank's compliance with the US FATCA (Foreign Account Tax Compliance Act) requirements, our activity now includes working to a range of operational tax regulations, such as CRS.
We also consider the broader response of the bank to these regulations and how we meet our obligations to them. This enables the bank to identify who is or isn’t a US citizen under FATCA and identify the country of tax residency to meet our CRS obligation.