Germany’s central tax office (BZSt) on 10 March 2017 released information for financial institutions and foreign “service providers” about: the new FATCA XML schema; a revision of a communication manual; new FATCA/CRS guidance notes; and the filing of “nil returns.”
BZSt has published a new XML data set that is in accordance with the U.S. Internal Revenue Service and its FATCA XML schema v2.0. Financial institutions are advised to use the new data set for filing returns pertaining to any reporting period from 1 January 2017 onwards. Return submissions to the BZSt via ELMA interface and the FATCA manual form currently are not possible due to an ongoing update. It is anticipated that the systems will be available 19 June 2017.
Read a March 2017 report [PDF 119 KB] prepared by the KPMG member firm in Germany
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