The South African Revenue Service (SARS) on 24 June 2016 issued the final version of the business requirements specification for both FATCA and common reporting standard (CRS) submissions due by the end of May 2017.
The business requirements specification provides guidelines on the submission of information under each reporting regime for financial institutions to follow for the exchange of information.
Read a June 2016 report [PDF 45 KB] prepared by the KPMG member firm in South Africa
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