{"id":12963,"date":"2026-07-14T17:13:19","date_gmt":"2026-07-14T09:13:19","guid":{"rendered":"https:\/\/www.pwma.org.hk\/?post_type=events&#038;p=12963"},"modified":"2026-08-06T17:15:00","modified_gmt":"2026-08-06T09:15:00","slug":"crs-2-0-preparing-for-the-next-phase-of-global-tax-transparency","status":"publish","type":"events","link":"https:\/\/www.pwma.org.hk\/tc\/events\/crs-2-0-preparing-for-the-next-phase-of-global-tax-transparency\/","title":{"rendered":"CRS 2.0: Preparing for the Next Phase of Global Tax Transparency"},"content":{"rendered":"\n<p>We were delighted to partner with Society of Trust and Estate Practitioners (Hong Kong) Limited on a highly anticipated training session on CRS 2.0, with more than 140 attendees joining us in person amid strong industry interest.<br><br>The session opened with Christiaan de Bruyn (Trident Trust) and Kathleen Wang (PwC) providing a practical overview of the evolving regulatory landscape, covering developments from CRS 1.0 to CRS 2.0, Hong Kong\u2019s proposed implementation timeline, the introduction of the Crypto-Asset Reporting Framework (hCARF), and the key preparation steps firms should be considering today.<br><br>The discussion was then brought to life through an engaging panel moderated by Yolenda Yu (EFG Private Bank), which explored both the operational and strategic implications of the upcoming changes.<br><br>Several themes emerged throughout the session:<br><\/p>\n\n\n\n<p>Enhanced Due Diligence \u2013 CRS 2.0 requires stricter verification; reliance on self\u2011certification alone is no longer sufficient.<br><br>Business Impacts \u2013 While CRS 2.0 and CARF introduce additional reporting requirements, they remain information-exchange frameworks rather than tax-levying regimes.<br><br>Regulatory Guidance &#8211; including anticipated IRD guidance notes and FAQs, will play an important role in supporting implementation<br><br>Financial institutions should begin reviewing existing processes, documentation, and client onboarding workflows in preparation for implementation<br><br>A key takeaway from the discussion was the importance of early preparation. As firms navigate an increasingly complex reporting environment, proactive planning and a clear understanding of the evolving requirements will be critical to achieving a smooth transition.<br><br>Our sincere thanks to STEP, our speakers, panellists, and all attendees for contributing to such an informative and engaging session.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"is-layout-flex wp-block-gallery-1 wp-block-gallery has-nested-images columns-default is-cropped\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1740\" height=\"1305\" data-id=\"12964\"  src=\"https:\/\/www.pwma.org.hk\/wp-content\/uploads\/2026\/08\/STEP-1.jpg\" alt=\"\" class=\"wp-image-12964\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1740\" height=\"1305\" data-id=\"12966\"  src=\"https:\/\/www.pwma.org.hk\/wp-content\/uploads\/2026\/08\/STEP-2.jpg\" alt=\"\" class=\"wp-image-12966\"\/><\/figure>\n<\/figure>\n\n\n\n<figure class=\"is-layout-flex wp-block-gallery-3 wp-block-gallery has-nested-images columns-default is-cropped\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1600\" height=\"1200\" data-id=\"12968\"  src=\"https:\/\/www.pwma.org.hk\/wp-content\/uploads\/2026\/08\/STEP-3.jpg\" alt=\"\" class=\"wp-image-12968\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"2040\" height=\"1148\" data-id=\"12970\"  src=\"https:\/\/www.pwma.org.hk\/wp-content\/uploads\/2026\/08\/STEP-4.jpg\" alt=\"\" class=\"wp-image-12970\"\/><\/figure>\n<\/figure>\n","protected":false},"featured_media":0,"template":"","acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.pwma.org.hk\/tc\/wp-json\/wp\/v2\/events\/12963"}],"collection":[{"href":"https:\/\/www.pwma.org.hk\/tc\/wp-json\/wp\/v2\/events"}],"about":[{"href":"https:\/\/www.pwma.org.hk\/tc\/wp-json\/wp\/v2\/types\/events"}],"wp:attachment":[{"href":"https:\/\/www.pwma.org.hk\/tc\/wp-json\/wp\/v2\/media?parent=12963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}