FATCA, CRS corrections required for 2016 reports | KPMG | US
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FATCA, CRS corrections required for 2016 reports in Guernsey

FATCA, CRS corrections required for 2016 reports

Guernsey’s Director of Income Tax this week issued a bulletin reporting that it has received notifications that for calendar year 2016, there were “record level errors” in FATCA data transmitted to the U.S. tax agency and in common reporting standard (CRS) reports to CRS jurisdictions.


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According to the bulletin, financial institutions will be issued formal notices and instructions to file corrective reports.


Read a November 2017 report [PDF 71 KB] prepared by the KPMG member firm in Guernsey

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