Tax Reporting Engine (CRS / FATCA / CARF)

Overview

The Tax Reporting Engine supports the preparation, validation, and reporting of tax and information exchange data under international frameworks including the Common Reporting Standard (CRS), Foreign Account Tax Compliance Act (FATCA), and the Crypto-Asset Reporting Framework (CARF / DAC8).

These frameworks require financial institutions and service providers to collect, validate, and report large volumes of structured account and transaction data to tax authorities, often across multiple jurisdictions and reporting models. Manual processes and fragmented tooling increase the risk of data inconsistencies, late filings, and supervisory queries.

REGREP’s Tax Reporting Engine provides a structured, repeatable approach to tax reporting by centralising regulatory data, applying framework-specific validation, and generating supervisory-ready reporting outputs aligned with applicable technical standards.

Regulatory Context

International tax and information exchange reporting frameworks are developed and maintained by the OECD and implemented locally by tax authorities through domestic legislation and reporting schemas.

Key frameworks supported include:

  • Common Reporting Standard (CRS / DAC2 / AEOI)

  • Foreign Account Tax Compliance Act (FATCA)

  • Crypto-Asset Reporting Framework (CARF / DAC8)

While these regimes differ in scope and reporting models, they share common operational challenges related to data classification, validation, aggregation, and jurisdiction-specific output formats.

Framework Coverage

The Tax Reporting Engine is designed to support multi-framework tax reporting through a single, unified reporting capability.

Current coverage includes:

  • CRS account and controlling person reporting

  • FATCA reporting under applicable IGA models

  • CARF / DAC8 reporting for crypto-asset service providers and intermediaries

The engine is designed to accommodate framework evolution and jurisdictional extensions, allowing firms to reuse data structures and reporting workflows as reporting requirements expand.

What the Tax Reporting Engine Does

The Tax Reporting Engine enables firms to:

  • Collect and structure tax-relevant data across entities and jurisdictions

  • Apply framework-specific validation rules for CRS, FATCA, and CARF

  • Manage jurisdictional variations in reporting schemas and requirements

  • Generate tax authority-ready reporting outputs

  • Maintain traceability and auditability across reporting cycles

The engine supports repeatable, period-based reporting processes, rather than one-off or jurisdiction-locked submissions.

Key Capabilities

Multi-Framework Reporting Support

Supports reporting across CRS, FATCA, and CARF using a unified data model, reducing duplication and framework-specific fragmentation.

Jurisdiction-Aware Output Generation

Manages jurisdictional reporting variations, including schema differences and local implementation requirements.

Data Validation & Quality Controls

Applies framework-specific and structural validation checks to identify data quality issues prior to submission.

CARF / DAC8 Readiness

Designed to support the expanded scope and data requirements introduced under CARF / DAC8, including reporting by crypto-asset service providers.

Auditability & Traceability

Maintains traceable links between source data, validation outcomes, and reported outputs to support internal review and tax authority enquiries.

How the Engine Fits Within REGREP

The Tax Reporting Engine operates as a core capability within REGREP’s regulatory reporting infrastructure. It is typically used alongside:

  • Entity & TIN Validation API for identifier accuracy

  • Regulatory data validation and enrichment processes

  • Structured reporting workflows across entities and jurisdictions

REGREP does not provide tax advice or regulatory approval. The engine supports the technical preparation of tax reporting outputs in accordance with applicable frameworks and schemas.

Who Typically Uses This Capability

The Tax Reporting Engine is commonly used by:

  • Banks and financial institutions

  • Investment firms and asset managers

  • Payment institutions and EMIs

  • Crypto-asset service providers

  • Regulatory reporting service providers

  • Accounting and advisory firms supporting tax reporting

Next Steps

Interested in how the Tax Reporting Engine supports multi-jurisdiction tax reporting?