102340 – Reportable Information: Reportable Jurisdictions

The following territories are the Reportable Jurisdictions for each of the regimes. 

FATCA 

United States of America 

CDOT 

Gibraltar, Guernsey, Isle of Man and Jersey. 

DAC 

Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and Switzerland. 

Note that the term Reportable Jurisdictions has relevance for determining for whom reporting financial institutions must report financial account information to HMRC. Concerning the DAC/CRS, the UK and over 60 other jurisdictions to date have signed the Multi-Lateral Competent Authority Agreement. Switzerland entered into an agreement with the EU on 27 May 2015 to exchange information, starting in 2018, equivalent to that required under the DAC. Authority Agreement (MCAA) for CRS purposes (the OECD maintained list can be found at (http://www.oecd.org/tax/exchange-of-tax-information/MCAA-Signatories.pdf). The MCAA, and other competent authority agreements as appropriate, together with formal agreements between the UK and other jurisdictions that we agree to exchange financial account information with will result in additions to the number of Reportable Jurisdictions over the coming months and a list will be published in good time to enable financial institutions to make their first reports by 31 May 2017.

Participating Jurisdictions (DAC/CRS) 

The terms Reporting Jurisdiction and Participating Jurisdiction have different meanings. The list of Participating Jurisdictions at Schedule 1 to the 2015 Regulations are the jurisdictions that have made a commitment to exchange under the DAC/CRS as Participating Jurisdictions. For the 2015 Regulations, where an Investment Entity that is managed by a Financial Institution is resident in a Participating Jurisdiction there is no need to look through the entity to identify its Controlling Persons. 

The non-EU jurisdictions on this list will not become Reportable Jurisdictions unless and until they are either reach agreement with the EU to adopt the DAC or the UK has concluded agreements that require the UK to send information to them under the CRS. 

Note that as at 31 July 2015, Ghana had signed the Multilateral Competent Authority Agreement. The International Tax Compliance Regulations 2015 will be amended to include Ghana in the list of Participating Jurisdictions, as well as any other jurisdictions that subsequently commit to the CRS.