Implications of DAC 8

This webinar provides one-hour of CPD and offers insights and updates from a leading industry-expert speaker. 

All webinars can be booked individually, or you can book the entire series for a discounted cost. Delegates places are also interchangeable with colleagues from the same organisation.

Book the full series of webinars at a discounted price.

View the full series

Content 

• Introduction: Summarizing the main different iterations of the Directive for Administrative Cooperation (DAC) and their OECD counterparts, ie: DAC2-CRS, DAC4-CbCR, DAC6-MDR, DAC7-DPI, and DAC8-CARF, as well as introducing the key purpose of DAC8

• Compliance Framework: Discussing the basic compliance blocks that entities need to undertake so to implement the directive, from classifying themselves on whether they are reporting operators or not, whether the products are in scope, whether investors/account holders are excluded or not, as well as the mechanisms for reporting and the internal controls to be set for BAU

• Due Diligence: Delving into more details about the classification and documentation of investors/account holders, while contrasting new vs pre-existing ones, as well as individual clients vs entity clients. 

• Reporting: Outlining the main “data elements” needed for reporting, the filing format and deadline, and the potential need to file in different EU Member States as well as the specific cases where an entity might need to report both under DAC8 and DAC2 for certain products.

• CARF and CRS: Contrasting the differences between DAC8 and the OECD CARF, as well as outlining the changes that DAC8 introduced to other DACs, in particular to CRS

Presenters

Brian Murphy Tax Partner at Grant Thornton Ireland

Brian joined Grant Thornton in 2019 and leads the firm's Financial Service Tax Practice. Brian has extensive experience in advising clients with regard to capital market transactions, cross border structured finance transactions, securitisation (including aviation) deals, structuring acquisitions, disposal of business assets, restructuring of group operations, cross border lending/financing, fund structuring from a regulatory and tax perspective, International tax planning, buy and sell side due diligence and the impact of OCED, EU and other international developments. Brian works closely with colleagues in audit and advisory groups and the international Grant Thornton network to provide domestic and international tax advice to clients in a holistic manner.

Fadi BouKaram Director, Tax at Grant Thornton Ireland

Fadi joined the firm in 2023 as a tax director, specializing in tax technology and Automatic Exchange of Information (AEoI) regimes. Fadi has over 10 years’ experience advising on FATCA and CRS implementation for governments and financial institutions. He also has 10 years’ experience in building technology solutions for the purposes of data mining and robotic process automation.