FATCA / IGA / CRS

FATCA / IGA / CRS

TaxNewsFlash-FATCA / IGA / CRS — KPMG's reports of developments concerning the Foreign Account Tax Compliance Act (FATCA)

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TaxNewsFlash-FATCA

TaxNewsFlash-FATCA

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June 2016

30 Jun - South Africa: Final business requirements specification for FATCA, CRS

30 Jun - Hong Kong: Common reporting standard (CRS) bill gazetted; effective date set for 1 January 2017

28 Jun - British Virgin Islands: FATCA reporting deadline extended

28 Jun - New Zealand: Recommendations for foreign trusts, inbound investment, BEPS proposals

28 Jun - OECD: Offshore tax evasion convention signed by Dominican Republic, Nauru

27 Jun - Cyprus: FATCA reporting deadline extended to 15 July

24 Jun - Malta: FATCA reporting by trustees

22 Jun - India: Guidance for FATCA, CRS requirements 

22 Jun - Cayman Islands: CDOT, FATCA notification date extended to 10 August

16 Jun - Paraguay: Exchange of information for tax purposes

15 Jun - Cayman Islands: FATCA deadlines extended to 10 August, final extension

15 Jun - British Virgin Islands: FATCA reporting deadline extended to 17 June

15 Jun - India: FATCA and CRS guidance

15 Jun - Liechtenstein: FATCA reporting deadline is 31 July

15 Jun - Romania: FATCA reporting deadline extended to 31 August

15 Jun - UK: Automatic exchange of information, guidance for charities

15 Jun - Italy: FATCA reporting deadline is 15 June

14 Jun - Malta: CRS registration date, extended to 30 September

13 Jun - Brazil: Updated FATCA guidance

9 Jun - FATCA: IRS announces IDES testing begins 16 June

6 Jun - Brazil: Extended deadlines for FATCA compliance

6 Jun - Channel Islands: Additional IGA-related guidance issued by Jersey

6 Jun - FATCA: IRS provides new version of data exchange

1 Jun - FATCA: IRS to update IDES data preparation process, examples

August

28 Aug - FATCA: Updated version ICMM; related error messages

27 Aug - FATCA: Updated FAQs on branch registration

27 Aug - India: FATCA reporting deadline extended to 10 September

26 Aug - Cayman Islands: FATCA portal closes 28 August 

21 Aug - Iceland: FATCA due diligence requirements

21 Aug - Italy: FATCA reporting guidance

20 Aug - FATCA: IGA signed with St. Vincent, Grenadines

18 Aug - Barbados: FATCA update; reporting deadline is 15 September

18 Aug - FATCA: Updated "more favorable terms" for Model 1 IGA

17 Aug - FATCA: Updated FAQs, other IDES guidance

11 Aug - FATCA: More favorable terms of Model 1 and Model 2 IGAs

10 Aug - India: FATCA implementation measures

10 Aug - OECD: CRS implementation handbook

7 Aug - FATCA: IGA signed with Portugal

7 Aug - Portugal: IGA signed with US

3 Aug - FATCA: New FAQs on registration updates

 

July

31 Jul - Portugal: FATCA reporting deadline extended to 30 November 

30 Jul - FATCA: IGA signed with Turkey

29 Jul - FATCA: Notification of “more favorable terms” under Model 1 IGA

28 Jul - FATCA: Updated FAQs on IDES transmission, security

24 Jul - Mauritius: FATCA reporting deadline extended to 31 August

22 Jul - Ireland: Updated FAQs for FATCA, CRS

20 Jul - FATCA: IRS memo on protection of IDES-provided data

16 Jul - FATCA: IGA signed with Philippines

14 Jul - BVI: FATCA reporting deadline, 31 July

14 Jul - FATCA: IGAs signed with India, Georgia

14 Jul - FATCA: Updated FAQs 

8 Jul - Brazil: FATCA-related filings due 15 August 2015

6 Jul - Cayman Islands: Guidance notes under FATCA intergovernmental agreements

6 Jul - Germany: Draft guidance for implementing FATCA

6 Jul - Mauritius: Reminder, initial FATCA report due 31 July

 

June

23 Jun - Ireland: FATCA reporting deadline extended to 31 July

19 Jun - Vietnam: FATCA guidance, extended reporting deadline

18 Jun - Cayman Islands: FATCA reporting deadline, 26 June

18 Jun - FATCA: IGA signed with UAE

17 Jun - Channel Islands: Jersey extends FATCA reporting deadline, if requested

16 Jun - Romania: FATCA intergovernmental agreement

12 Jun - Netherlands: Official translation of FATCA guidance

12 Jun - FATCA: IGA signed with Korea

12 Jun - Canada: “Global FATCA” agreement is signed

11 Jun - FATCA: IGA signed with Vatican

11 Jun - Malta: FATCA reporting deadline is again extended

11 Jun - Spain: Draft guidance for common reporting standard (CRS); FATCA

10 Jun - FATCA: Reminder of reporting requirements for foreign assets (FBAR and FATCA filings)

9 Jun - FATCA: FAQs on extensions of time to file Form 8966

9 Jun - FATCA: XML schema, IDES technical FAQs

9 Jun - South Africa: FATCA guide for financial institutions

5 Jun - BVI: FATCA deadlines extended

5 Jun - Luxembourg: FATCA reporting deadline is extended

4 Jun - OECD: Seven more countries agree to CRS on AEOI

3 Jun - France: Updates on FATCA reporting deadline, "nil" reporting

1 Jun - UAE: FATCA reporting deadllines are extended

1 Jun - Bahamas: FATCA guidance notes

 

May

29 May - FATCA: IGAs signed with Iceland, Romania

28 May - FATCA: IDES digital certificate product, IDES test reminder

28 May - FATCA: IGA signed with Colombia

28 May - Switzerland: Automatic exchange of information agreement with EU

26 May - FATCA: Production data transmitted to IDES production environment

26 May - Malaysia: FATCA reporting deadline is extended

26 May - Mexico: Deadline for filing amended FATCA returns extended

22 May - Germany: FATCA-reporting draft guidance

21 May - Cayman Islands: FATCA notification, reporting deadlines again extended

20 May - FATCA: IDES testing program

14 May - Belgium: FATCA guideliens; reporting by 30 June

12 May - Cayman Islands: Extended deadlines for FATCA notification, reporting

11 May - New Zealand: FATCA guidance on “recalcitrant accounts”

8 May - FATCA: New FAQs, new enrollment process under IDES

8 May - United Kingdom: FATCA implications for non-financial entities

 

April

29 Apr - FATCA: IGA signed with Kuwait

28 Apr - FATCA: Refund claims by non-resident aliens, withholdings not deposited

21 Apr - FATCA: Metadata user guide for FATCA reporting

15 Apr - FATCA: IDES testing opportunity

14 Apr - FATCA: New FAQ on ICMM notifications

13 Apr - FATCA: IGA signed with Uzbekistan

9 Apr - FATCA: IRS publications on FATCA reports, notifications

 

March

27 Mar - FATCA: Electronic filing of Form 1042-S for tax year 2014

24 Mar - FATCA: New FAQs on reporting

23 Mar - FATCA: IGA signed with Croatia

20 Mar - FATCA: IGA signed with Belarus

Prior Editions

Prior editions of TaxNewsFlash-FATCA (from 2014 and the first half of 2015) are listed below, and are searchable by key words.

For a copy of a prior edition, send an email to US-KPMGWNT@kpmg.com with (1) date and (2) title.  A copy will be sent to you as soon as possible.

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