The South African Revenue Service (SARS) has issued a general guide for South African financial institutions to follow with respect to implementation of the FATCA regime and the intergovernmental agreement (IGA) between South Africa and the United States.
The new guidance—Guide on the U.S. Foreign Account Tax Compliance Act (FATCA)—(June 2015) finalizes and updates draft guidance notes issued in April 2015.
The FATCA guide [PDF 571 KB] reflects SARS’s interpretation of the IGA.
Read a June 2015 report [PDF 51 KB] prepared by the KPMG member firm in South Africa.
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