Changes since Baseline 1/1/2017

Changes made by Governmental Authorities to the FATCA, IGA, CRS and CDOT landscape since Baseline 1/1/2017

Date Own Ref. Description Source Authority
Mar 10, 2017 2017-0080 Germany: 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.” Link BZSt
Mar 13, 2017 2017-0079 Luxembourg: Updated FAQs for the implementation of
Common Reporting Standard
Link Luxembourg Tax Authority
Mar 13, 2017 2017-0078 Singapore and Denmark Sign Agreement for Automatic Exchange of Financial Account Information Link IRAS
Mar 13, 2017 2017-0077 Belgium: Guidelines for correcting FATCA return Link Federal Public Service of Finance
Mar 13, 2017 2017-0076 Singapore signs Agreements with Belgium and Luxembourg for Automatic Exchange of Financial Account Information Link IRAS
Mar 10, 2017 2017-0075 Seychelles: (i) OECD states that Seychelles will be using the OECD Schema for CRS reporting (ii) OECD posted a link to Guidances from Seychlles concerning the CRS Link OECD
Mar 10, 2017 2017-0074 Trinidad and Tobago: OECD removes Trinidad and Tobago from the list of Jurisdictions reporting in 2017 and adds the Country to the list of Jurisdictions reporting in 2018 Link OECD
Feb, 2017 2017-0073 Denmark: FATCA reporting guidelines Updated – version 1.1 Link Danish Tax Authority
March 3, 2017 2017-0072 UK: ‘extensive changes’ to ‘Automatic Exchange of Information: reporting guidance’. Link HMRC
March 3, 2017 2017-0071 Ireland: Common Reporting Standard FAQs Link Irish Revenue Commissioners
Feb, 2017 2017-0070 Hong Kong: CRS XML Schema Guide Link Inland Revenue Department
Mar 8, 2017 2017-0069 Singapore: FATCA Return Filing for Reporting Year 2016 Link IRAS
Mar 8, 2017 2017-0068 Bahamas: US Competent Authority Agreement Link US IRS
Mar 3, 2017 2017-0067 UK: HMRC publish template for TCSPs to provide offshore entity returns Link UK HMRC
Mar 3, 2017 2017-0066 Poland: Wider Approach on CRS Link OECD
Mar 1, 2017 2017-0065 Belgium: Issued guidelines for structure and format for reporting of information in the XML Schema Link Belgium’s Ministry of Finance
Feb 28, 2017 2017-0064 USA – Updated qualified intermediary (QI) system Link US IRS
Feb 28, 2017 2017-0063 Denmark – CRS Reporting Guidelines (v1.2) Link Danish Tax Authority
Feb 27, 2017 2017-0062 [TS No.12/2017] UK/USA: Agreement and Exchange of Notes to implement FATCA Link UK Government
Feb 17, 2017 2017-0061 New Zealand Revenue issues special report on Automatic Exchange of Financial Account Information in Tax Matters Link New Zealand Inland Revenue (“Te Tari Taake”)
Jan 27, 2017 2017-0060 Nauru: Regulation implementing the CRS Link Nauru Government
Feb 24, 2017 2017-0059 Singapore and Lithuania Sign Agreement for Automatic Exchange of Financial Account Information Link IRAS
Feb 24, 2017 2017-0058 Trinidad and Tobago passes FATCA Bill Link
Feb 20, 2017 2017-0057 Ireland: Changes to FATCA file validation process Link Irish Revenue Commissioners
Feb 15, 2017 2017-0056 Slovenia adopts the OECD schema for CRS reporting” Link OECD
Feb 14, 2017 2017-0055 Mexico extends FATCA reporting deadline for 2014/2015 reportable accounts to 31 March 2017″ Link Mexican Tax Authority (Servicio de Administración Tributaria or SAT)
Feb 14, 2017 2017-0054 Mexico: Regulatory amendments for compliance with the Common Reporting Standard” Link Mexican Tax Authority (Servicio de Administración Tributaria or SAT)
Feb 14, 2017 2017-0053 IRS releases updated FATCA FAQs, including information on registration for QIs/QDDs” Link US IRS
Feb 15, 2017 2017-0052 South Korea: Revised Regulations for the implementation of Automatic Exchange of Financial Information Link The government of South Korea
Feb 15, 2017 2017-0051 Competent Authority Arrangement between the Competent Authorities of the United States of America and the Government of Antigua and Barbuda Link US IRS
Feb 15, 2017 2017-0050 IRAS CRS FAQs document updated: updates were made to FAQs A.1, C.8, D.1 and E.3, and 2 new FAQs (E.20 and E.21) were added. Link IRAS
Feb 15, 2017 2017-0049 Singapore and Estonia Sign Agreement for Automatic Exchange of Financial Account Information Link IRAS
Feb 6, 2017 2017-0048 Australia: Financial institutions must use FATCA XML Schema v2.0 Link ATO
Feb 6, 2017 2017-0047 Luxembourg: ECHA Circular No. 4 of 06 February 2017 published Link Luxembourg Tax Authority
Feb 7, 2017 2017-0046 Saudi Arabia: approves Intergovernmental Agreement to implement FATCA Link
Feb 8, 2017 2017-0045 Antigua & Barbuda: United States of America Implementation and Enforcement of the Inter-Governmental Agreement was passed in Parliament without opposition, making it mandatory Link
Feb 7, 2017 2017-0044 Ukraine’s Finance Minister Oleksandr Danyliuk and the US Ambassador to Ukraine Marie Yovanovitch signed an intergovernmental agreement (1B) implementing the Foreign Account Tax Compliance Act (FATCA) Link US Treasury
Jan 25, 2017 2017-0043 Hong Kong, S Korea To Automatically Exchange Tax Data Link
Feb 1, 2017 2017-0042 Guide on the Link SARS
U.S. Foreign Account Tax Compliance Act (FATCA)
(Issue 2)
Jan 14, 2017 2017-0041 Spain updates technical guidance Link Agencia Tributaria
Feb 2, 2017 2017-0040 Switzerland weighs expansion of automatic exchange of tax information to 20 more countries Link Switzerland’s Federal Department of Finance
Jan 31, 2017 2017-0039 Update On The BVI Financial Account Reporting System Link Government of the Virgin Islands
Jan 27, 2017 2017-0038 Second draft of Technical Guidance for the CRS Link Swedish Tax Agency
Jan 31, 2017 2017-0037 GIINs: the volume of “Financial Institutions in approved status as of January 25, 2017” shows an increase of 6,521 in January 2017. The volume of GIINs as at Jan 25, 2017 stands at 274,229 Analysis IRS
Jan 31, 2017 2017-0036 The Competent Authority Agreements for CRS between Singapore and the United Kingdom, Japan, South Africa, Norway, Finland, Netherlands, Iceland, Malta and Ireland entered into force on 31 January 2017. Link IRAS
With the above, the respective jurisdictions will be regarded as “Reportable Jurisdictions”. SGFIs will have to transmit to IRAS the financial account information of accounts held by persons that are tax residents of the above Reportable Jurisdictions, with the first submission due by 31 May 2018. “
Jan 31, 2017 2017-0035 A media release on the Common Reporting Standard and how account holders may be affected” Link IRAS
Jan 30, 2017 2017-0034 Anguilla signs model 1B IGA” Link US Treasury
Jan 27, 2017 2017-0033 The UAE’s IGA is now “In Force”” Link US Treasury
Jan 27, 2017 2017-0032 Portugal’s IGA is now “In Force”” Link US Treasury
Jan 27, 2017 2017-0031 Montserrat’s IGA is now “In Force”” Link US Treasury
Jan 27, 2017 2017-0030 Greenland signed a Model 1B IGA” Link US Treasury
Jan 27, 2017 2017-0029 Croatia’s IGA is “In Force” Link US Treasury
Jan 12, 2017 2017-0028 US IRS revises publication 515: Withholding Link US IRS
of Tax on Nonresident Aliens and Foreign Entities”
Jan 24, 2017 2017-0027 Algeria’s IGA in now “In Force” Link US Treasury
Jan 23, 2017 2017-0026 Annexes – Council of Europe – Mutual Assistance in Tax Matters Link OECD
Jan 23, 2017 2017-0025 Greece moves from an IGA in substance to a Signed IGA that is not “In Force” Link US Treasury
Jan 18, 2017 2017-0024 Switzerland: Final Guidance on Standard for the Automatic Exchange of Financial Account Information under the CRS Link Federal Tax Administration of Switzerland
Jan 11, 2017 2017-0023 Malta publishes XML 2.0 effective from Jan 16 2017 Link Malta IRD
Jan 19, 2017 2017-0022 Luxembourg’s schema and updated migration schedule from version 1.2 of the XSD schema to version 2.0 of the schema Link Lux ACD
Jan 17, 2017 2017-0021 Singapore Updates FAQs – FATCA Filing Process Link IRAS
Jan 18, 2017 2017-0020 Ireland updates CRS FAQs Link Irish Revenue
Jan 19, 2017 2017-0019 Revenue Procedure 2017-21 (Updated Foreign Partnership Agreement and Withholding Foreign Trust Agreement) Link US IRS
Jan 17, 2017 2017-0018 Danish Tax Authority Updates FAQs on TINs Link SKAT
Jan 19, 2017 2017-0017 UK Guidance concerning DAC/CRS on Charities: Protection on Human Rights Grounds Link UK HMRC
Jan 18, 2017 2017-0016 Bahrain moves from an IGA in substance to having signed a Model 1B (Non Reciprocal) IGA. The IGA is not “in force”. Link US Treasury
Jan 16, 2017 2017-0015 South Africa issues guidance Link OECD
Jan 16, 2017 2017-0014 Slovenia passes secondary legislation and issues guidance Link OECD
Jan 16, 2017 2017-0013 Romania issues secondary legislation and moves from “Optional” to “Narrow” (see 2017-0010) Link OECD
Jan 16, 2017 2017-0012 Greece adopts “Wider Approach” Link OECD
Jan 10, 2017 2017-0011 San Marino adopts standard CRS schema Link OECD
Jan 10, 2017 2017-0010 Romania moves from the “Wider Approach” to “Optional” (see 2017-0013) Link OECD
Jan 10, 2017 2017-0009 Niue passes Primary Legislation Link OECD
Jan 10, 2017 2017-0008 Liechtenstein moves from the “Wider Approach” to “Optional” Link OECD
Jan 10, 2017 2017-0007 Latvia adopts standard CRS schema Link OECD
Jan 10, 2017 2017-0006 Jersey moves from the “Wider Approach” to “Optional” Link OECD
Jan 10, 2017 2017-0005 France to use a domestic reporting format for DAC/CRS reporting Link OECD
Jan 10, 2017 2017-0004 Cambodia’s IGA Status moves from “Not In Force” to “In Force” Link US Treasury
Jan 10, 2017 2017-0003 Proposed further changes to US FATCA regs Link US Treasury
Jan 3, 2017 2017-0002 Taiwan moves from having an IGA “In Substance” to having signed a Model 2 IGA that is not yet “In Force” Link US Treasury
Jan 3, 2017 2017-0001 Belgium moves from having an IGA that is not “In Force” to having an IGA that has been “In Force” since Sep 23. 2016 Link US Treasury
PDF of Baseline 1/1/2017 Part I

PDF of Baseline 1/1/2017 Part II