01 | Welcome to The Compliance Pulse
Hello and welcome!
This is an exciting time for Trans World Compliance, and we wanted to include you in our first newsletter. To quickly explain why you got it: we've met, talked, or crossed paths at some point. We will offer you and your organization value in each monthly issue: news, events, blogs, recommendations, podcasts, exclusive resources, and more. But first, a brief history of TWC.
With an estimated $427 billion of missed lost revenue, publications such as the Panama Papers, Paradise Papers, and Pandora Papers are increasing awareness of how offshore accounts and shell companies are used to create an unequal tax system. Here's when CRS and FATCA regulations come in, which are the essential tools governments use to fight back.
Our solutions and services are joining this fight for a more equal and just world; we are a FinTech company combating tax avoidance and evasion. Trans World Compliance was founded in 2014 to assist Financial Institutions and Governments through software that meets the needs of a rapidly changing compliance environment and is a pioneer in CRS, FATCA, and BEPS compliance solutions.
Back then, it was me, a developer, and a salesperson. We then added a support person and got more development help; initially, everyone was US-based, but our development help was in India. We had zero clients in the first year. We currently have more than 20 employees in offices in the United States, Europe, Latin America, and the Caribbean, and a network of partners in Asia and Africa that help us cater to our over 200 clients in more than 100 jurisdictions. All of this with a 99% retention rate. We take the complexity and hassle out of FATCA, CRS, and BEPS compliance, and we are in the right place and time to assist with combating tax avoidance and evasion.
Thank you for supporting TWC. We hope this newsletter brings us closer to all the connections we've made through the years and that you find value in it. Please also follow us on LinkedIn for more quality content in a more frequent manner.
President and Founder
TWC's Spotlight
Podcast | Compliance and culture with Elizabeth McMorrow
In today's edition, we recommend this episode of our podcast, where we sat down with Elizabeth McMorrow, an expert in financial industry compliance with more than 25 years of experience. We had a thought-provoking conversation on how understanding culture is vital to developing an effective compliance program.
Click here to listen to the podcast.
Industry News
This week, the Council of the EU updated its list of non-cooperative jurisdictions for tax purposes. Three jurisdictions were added, but three others were added.
New on the list are Antigua and Barbuda, Belize, and Seychelles. On the other hand, the British Virgin Islands, Costa Rica, and Marshall Islands are no longer on the list.
"The Council regrets that these jurisdictions are not yet cooperative on tax matters and invites them to improve their legal framework in order to resolve the identified issues," stated the press release.
A final thought
At TWC, we are committed to helping you navigate the ever-changing landscape of compliance and regulations. Whether you have questions, require assistance, or seek innovative solutions, we support you.
Don't hesitate to Contact Us for all your compliance needs. Our team of experts is ready to assist you.
Thank you for being a part of our compliance community. Together, we can stay fully compliant and drive excellence in the world of regulatory technology.
