Grant Thornton adds value to the business community of Azerbaijan by leading a two day seminar which provides actionable insights to FATCA.

Grant Thornton, a leading international assurance, advisory and tax firm hosted a conference on the 12th and 13th of May focused on Foreign Account Tax Compliance Act (FATCA), which set out to find how financial services institutions in Azerbaijan can meet the requirements of the new act.
 
The event which was hosted at the premises of the Central Bank of Azerbaijan brought together over 100 financial services representatives who were invited to attend the complimentary session which provided FATCA based insight.
 
Grant Thornton Azerbaijan facilitated and led the meeting which added value not only to their clients and people but also within the communities in which they live and work. This meeting was hosted as part of their corporate social responsibility initiatives.
 
The event highlighted the background and introduction to FATCA, definitions and classifications, requirements for foreign financial institutions, inter-governmental agreements, reporting, implications in Information Technology and Banking sector of Azerbaijan, key challenges in implementation by banks and the latest developments and IDES reporting.
 
Farouk Mohamed, Managing Partner of Azerbaijan stated “we as an organisation ensure that corporate social responsibility is at the heart of what we do. Adding value to our communities is extremely important and we are delighted to be hosting this two day meeting for the financial services community of Azerbaijan in collaboration with the Central Bank, Ministry of Tax and money-laundering authorities.”
 
The two day event concluded with the latest FATCA developments and with the audience taking away an influx of knowledge to further aid them in fulfilling FATCA compliance, policy, objectives and to further reduce the burdens on foreign financial institutions in Azerbaijan.

Disclaimer

Grant Thornton Azerbaijan is a member firm of Grant Thornton International Ltd (Grant Thornton International) which is one of the world's leading organisations of independently owned and managed accounting and consulting firms. These firms provide assurance and specialist business advice to privately held businesses and public interest entities. Services are delivered independently by the member and correspondent firms within Grant Thornton International, a non-practicing, international umbrella entity organised as a private company limited by guarantee incorporated in England and Wales. Grant Thornton International does not deliver services in its own name or otherwise. Grant Thornton International and the member firms are not a worldwide partnership.