Sanctions underscore UAE’s commitment to international tax transparency through enforcement of CRS and FATCA regulations The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has taken decisive enforcement action against 23 entities for failing to comply with international tax reporting obligations, levying fines totalling Dhs610,000. The violations relate to breaches of the Common Reporting Standard (CRS) Regulations 2017 and the Foreign Account Tax Compliance Act (FATCA) Regulations 2022. These regulatory frameworks — CRS and FATCA — are cornerstones of the global initiative to strengthen tax transparency and curb international tax evasion. By adhering to these protocols, countries … Continue reading ADGM’s FSRA Fines 23 Entities Dhs610,000 for Breaching Global Tax Reporting Standards