Tax Management
At UOB, we are committed to complying with the provisions of FATCA and to ensuring that the Bank meets all applicable FATCA requirements.
Tax risk management and governance
Our governance framework also ensures that the Bank continues to comply with FATCA requirements on a business-as-usual basis. Under the provisions of United States’ (US) tax law, FATCA, non-US financial institutions are required to identify and to report information on assets held by US persons and other non-cooperative entities and individuals to the US Internal Revenue Service. Many countries, including Thailand, have intergovernmental agreements with the US to facilitate the reporting required under FATCA.
Undertake transactions which are grounded in commercial realities
Consistently consider tax implications before implementing our business plans
File our tax returns accurately and in a timely manner, and fulfil our tax obligations appropriately
Employ experienced and qualified in-house tax professionals
Seek professional advice from third party advisers and consult with tax authorities on transactions with significant tax uncertainty
Common Reporting Standard (CRS)
The CRS is a global tax information exchange standard developed by the OECD to help prevent offshore tax evasion. The CRS requires financial institutions in participating jurisdictions to identify, to collect and to report to the authorities annually the tax residency information of customers from jurisdictions with which agreements to exchange information are in place. Our CRS policy ensures the Bank meets all applicable CRS requirements in all the participating jurisdictions in which we operate.
Related
AML, CFT and sanctions
We have robust protocols and processes for anti-money laundering (AML), countering the financing of terrorism (CFT), and sanctions.
Anti-fraud
We proactively manage fraud risks across our branches, internet banking and mobile banking channels through our governance framework.
Anti-bribery and anti-corruption
We adopt a strong stance against bribery and corruption, with our Code of Conduct specifying zero tolerance to bribery and corruption in all forms.
AML, CFT and sanctions
We have robust protocols and processes for anti-money laundering (AML), countering the financing of terrorism (CFT), and sanctions.
Anti-fraud
We proactively manage fraud risks across our branches, internet banking and mobile banking channels through our governance framework.
Anti-bribery and anti-corruption
We adopt a strong stance against bribery and corruption, with our Code of Conduct specifying zero tolerance to bribery and corruption in all forms.
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