KPMG UAE Tax Alerts: FATCA alert | KPMG | AE

KPMG UAE Tax Alerts: FATCA alert

KPMG UAE Tax Alerts: FATCA alert

FATCA reporting deadline extended; Guidance notes under FATCA intergovernmental agreement and Information on Reporting Portal

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July 12: The United Arab Emirates, represented by the Ministry of Finance (‘MoF’) hadsigned the Model 1 IGA with the United States on 17th June 2015.

The MoF has issued Version 1.0 of guidance notes for implementing the intergovernmentalagreement (IGA) between the United Arab Emirates and the United States on 6th July 2015.

Further the MoF has set the reporting deadline for all “Foreign Financial Institutions” (FFIs) inthe UAE to 30th July 2015.

The UAE IGA allows UAE Financial Institutions to supply the information in relation to USReportable Accounts to the MoF, who will then supply it to the IRS. This information will firstbe provided to UAE Central Bank (CB), the Securities and Commodities Authority (SCA),Insurance Authority (IA), or the Dubai International Financial Centre (DIFC) / Registrar ofCompanies (RoC), at the following links:

CB: Central Bank Services Portal (private network)
IA: http://fatca.ia.gov.ae/fatca
SCA: https://scafatca.sca.ae/fatca/
DIFC/RoC: https://portal.difc.ae
MoF: https://moffatca.mof.gov.ae/fatca/

Read the
Guidance Notes [PDF 2.15 MB]

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