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Our tax specialists are able to assist with regulatory & compliance issues


At EBC Trust we understand how regulatory reporting requirements can impact the tax planning process. More scrutiny is now being placed on the economic substance of corporate structures and permanent establishments as well as on the operating models used by businesses. Failure to comply may result in non-compliance penalties as well as reputational damage.

With our in-house experience and using our international network of tax specialists we are able to assist clients through the regulatory /compliance issues that may arise during the planning process.

Need advice? Talk to one of our experts

The main issues to consider include:

  • Tax Residency

    (a) For individuals, their tax residency will be the main factor in determining where they are liable for tax on their worldwide income and gains. Many countries will deem a person tax resident if they spend over 183 days a year there. Under other residency rules it is possible to be tax resident in more than one country in a year and be liable to tax on worldwide income in those different countries. The use of double tax treaties should mitigate the overall tax payable.

    (b) For companies, their tax residency will in most countries depend on where the company is incorporated, or managed and controlled from. It will also include the economic substance of the business being undertaken.

  • Common Reporting Standard (CRS)

    Monaco has agreed to start the automatic exchange of financial information( AEOI) in September, 2018. Under this OECD initiative , as at September, 2018, 102 countries have agreed to its implementation.These countries will automatically report on an annual basis with each other. Automatic Exchange of Information (AEOI) is the collective term for several reporting regimes: US FATCA (the Foreign Account Tax Compliance Act), UK FATCA and Common Reporting Standard (CRS).

    There is also a requirement to “look through" passive entities to report on the individuals that ultimately control these entities. As part of this process financial institutions must undertake a set of standard due diligence procedures to identify the account holder. The information to be supplied in the annual reporting includes the following:

    - Name of the individual
    - Address
    - TIN( tax identification number)
    - Date and place of birth
    - Account number
    - Name and identifying number the financial institution holding the account

  • Base Erosion and Profit Shifting (BEPS)

    Base erosion and profit shifting (BEPS) refers to tax planning strategies that exploit gaps and mismatches in tax rules. These strategies look to artificially shift profits to low or no-tax locations where there is little or no economic activity. The BEPS package from the OECD consists of reports on 15 actions. These include Controlled Foreign Companies (CFC) regimes, harmful tax practices, Permanent Establishment (PE) status, treaty abuse and transfer pricing. In 2017, Monaco agreed to the BEPS Action 13 relating to the automatic sharing of country by country information.

    The minimum standards so far agreed include the following:

    1. Model provisions to prevent treaty abuse by impeding the use of conduit companies to channel investments through countries and jurisdictions with favourable tax treaties in order to obtain reduced rates of taxation;

    2. Standardised Country-by-Country (CbC) Reporting that will give tax administrations a global picture of where MNEs’ profits, tax and economic activities are reported.

    3. A revitalised peer review process to address harmful tax practices, including patent boxes.

    4. An agreement to secure progress on dispute resolution, through the mutual agreement procedure (MAP).

Our services include:


Tax compliance review.

CRS review.

Residency review.

SRT review.

FATCA classification and reporting obligations.

UK FATCA classification and reporting obligations.

FBAR-compliance and reporting obligations.

Section 311 compliance and reporting obligations.

Inheritance tax review.



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For more tailored information regarding Regulatory Reporting, complete the form below and a member of our team will contact you.

Alternatively, you can contact us on (+377) 92 16 59 99