CITT in 5 minutes 3 Focus areas How it works Pricing

CITT Tool

PwC’s Customer & Investor Tax Transparency Compare Tool

How are you keeping up with the changes of FATCA and CRS regulations across territories?

PwC's CITT Compare Tool is a web-based application used to manage global tax information exchange requirements surrounding FATCA and CRS. It offers approximately 400 criteria across nearly 100 countries with multiple functionalities to support your compliance needs.

CITT Compare Tool in 5 minutes

Three focus areas

In an field where the only constant is change, PwC’s CITT Compare Tool strives to address three areas which clients find the most challenging to manage within their global operations:

Various Sources of Information

Given the various sources of primary information from the IRS, U.S. Treasury, OECD and local regulatory authorities, clients are looking for a repository of such information in order to centralize their searches.

PwC’s CITT Compare Tool will house active links to relevant primary documentation, including the U.S. regulations, Annexes maintained by the OECD, EU Directives as well as local regulations and guidance.

Different Users with Varying Needs

Financial institutions are impacted in multiple operational areas by Customer & Investor Tax Transparency initiatives. These units and functions have different needs and require a flexible solution.

PwC’s CITT Compare Tool provides users with standardized overviews and the option to create individualized searches which can be saved to the user’s profile, giving users the freedom to tailor their searches based on the individual needs.

Frequent Regulatory Changes

Frequent regulatory changes have become a constant within the area of Customer & Investor Tax Transparency. Managing these changes from various sources (IRS, OECD, EU and local authorities) has become a challenging and significant task. Based on a 2-step alert process, users will be made aware of regulatory changes in an efficient manner and also be notified when PwC’s CITT Compare Tool is updated to reflect these changes, allowing for new searches to be run and stakeholders to be notified of impacts to their institutions.

How CITT Compare Tool works?

Please find below a short step by step guide on how the tool works.

Select countries

Select a ‘Base Country’, meaning the country against which differences should be compared within PwC’s CITT Compare Tool. By doing so, all reports will be presented in comparison to the selected ‘Base Country’ with differences clearly highlighted. Also, you have the option to choose only a ‘Base Country’ and run country specific reports, without comparison, in a single country view.

Choose a report

PwC's CITT Compare Tool offers five different pre-determined reports:

Executive Report
Status Overview
Reporting Overview
Global Voluntary Disclosure Program Overview, and
Reportable Jurisdiction Matrix.

In addition to these five pre-determined reports, PwC’s CITT Compare Tool offers one more report to its users: Create Your Own Report, where you are free to not only select a baseline country and countries for comparison, but also any, or all, of the near 400 criteria covering FATCA and CRS.

View your report

Explore, evaluate and compare the data the tool is offering.

Export your report

Export your report to a time-stamped PDF for documenting or sharing with your teams.

Save your search

You also have the option to save your searches within your profile and rerun the reports when regulatory updates occur. Importantly, when you rerun the search it will include the most recent regulatory information.

How am I informed about changing regulations in all those countries?

PwC provides regulatory alerts to the users of the CITT Compare Tool in a two-step process: first, you will be notified of any regulatory changes in any jurisdiction, i.e. the passage of local legislation, via a weekly e-mail and the CITT News Blog (which feeds into PwC’s CITT Compare Tool). Secondly, you will be notified again once PwC’s CITT Compare Tool is updated to reflect the changes.