KPMG UAE Tax Alerts: FATCA reporting deadline set ... | KPMG | AE

KPMG UAE Tax Alerts: FATCA reporting deadline set by DFSA for the 2016 reporting year

KPMG UAE Tax Alerts: FATCA reporting deadline set ...

Dubai –19 April 2016: The Dubai Financial Services Authority (DFSA), the regulatory body governing the DIFC, has announced that the reporting deadline for all foreign financial institutions (FFIs) registered with the DIFC in the UAE will be 15 May 2016. As before, FFIs registered with the DIFC must report through the DIFC portal which can be accessed here.

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As outlined in the intergovernmental agreement between the UAE and the USA, the second phase of FATCA reporting introduces new requirements. The DFSA has added sections to report additional information.

The implementing guidance notes issued by the UAE Ministry of Finance can be accessed here.

The UAE’s Central Bank, the Insurance Authority and the Securities and Commodities Authority have yet to communicate on reporting deadlines for FFIs registered with them.

© 2017 KPMG, KPMG LLP and KPMG Lower Gulf Limited, registered in the UAE and member firms of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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