FIs — New FATCA Guidance Provides Relief | KPMG | CA

FIs — New FATCA Guidance Provides Relief

FIs — New FATCA Guidance Provides Relief

Canadian FIs may see some relief under the CRA’s updated FATCA guidance.

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The CRA’s changes and clarifications, some of which are based on comments from industry groups and stakeholders, help to further align these two similar information reporting regimes. As a result, financial institutions may have more consistent information collection and reporting burdens for both FATCA and CRS.

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