The State Bank of Vietnam issued guidance to financial institutions concerning reporting under the FATCA regime for the year 2015—reporting that is due by 30 June 2016.
The bank guidance—Official Letter No. 915/TTGSNH11 (25 March 2016)—was issued to credit institutions and branches of foreign banks. The state bank updated the status and progress with respect to intergovernmental agreement (IGA) negotiations and conclusion, and provided further reporting guidance for the reporting year 2015. Financial institutions are required to implement the FATCA reporting requirements for the year 2015 by 30 June 2016, but a 90-day extension may be granted if a financial institution files an extension request by 31 March 2016.
Read a March 2016 report [PDF 98 KB] prepared by the KPMG member firm in Vietnam: FATCA Alert
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