On Thursday evening, STEP Benelux held a cocktail presentation at the offices of Maitland on “The Common Reporting Standard: Update on its Status and Insights into its Impact".

Andrew Knight, Partner at M Partners (member of the Maitland network) and an expert in international tax and wealth structuring, explained what the Common Reporting Standard (CRS) will involve. He addressed various issues including the impact of staggered implementation, the possibility of selective country reporting, on-going uncertainties regarding the impact on Trusts, how the US fits into the CRS, and the practicalities of implementation for financial institutions.

Afterwards, attendees networked over an excellent reception of fine South African wines.