FATCA AGREEMENT: ARGENTINA HAS TO FACE MANY CHALLENGES It will not be easy for the Argentine government to implement the FATCA agreement. On a closer inspection, there are critical issues that may arise in implementing the operational terms of the agreement with the United States. FATCA came into force on 1ᵒ January without going through...Read More

EU to re-assess tax information exchange agreements The European Data Protection Board (EDPB) asked EU Member States to re-assess their tax information exchange agreements (TIEA) with third countries in order to evaluate their compliance with taxpayers’ privacy rights and the General Data Protection Regulation (GDPR). This request follows concerns raised in Austria, France, Luxembourg and...Read More

US asks Switzerland to disclose FATCA non-compliers’ account details On December 1, the Swiss Fedral Tax Administration (SFTA) acting on behalf of the American Internal Revenue Service (IRS), asked twelve Swiss banks and one fiduciary to provide data on certain of their American account-holders, as required by the Foreign Account Tax Compliance Act (FATCA). The...Read More

Optional delay for DAC6 reporting The European Commission proposal of 8 May 2020 for a new directive amending Directive 2011/16 / EU aims to postpone certain deadlines for reporting and exchanging information on tax matters due to the crisis related to COVID-19. Negotiations in the Council have progressed rapidly in recent weeks and a compromise...Read More

    The Department for International Tax Cooperation (DITC) advises industry of the following: CRS COMPLIANCE FORM As of Wednesday, 15 April the DITC is providing industry with the advance release of its new CRS Compliance Form. Whilst the 2020 deadline for submission of this form is 31 December 2020, the DITC is aware that...Read More