On 30 May 2019, the Inland Revenue Board of Malaysia (“IRBM”) announced that the Foreign Account Tax Compliance Act (“FATCA”) International Data Exchange Service (“IDES”) opens for testing from 17 June 2019 at 8.00 AM EDT to 26 July 2019 at 5.00 PM EDT. The test session will be open to all users that have completed IDES enrolment by 13 June 2019 at 5.00 PM EDT. There will be no own Malaysian testing solution (Link).
For the Common Reporting Standard (“CRS”), the Hasil International Data Exchange Facility (“HiDEF”) submission is open for testing from 1 April 2019 to 28 June 2019 (Link-Blog).
Financial Institutions (“FIs”) that have completed their registration before 1 April 2019, can participate in the CRS testing from 1 April 2019. FIs that have completed the CRS registration during the CRS testing period are also able to participate on the following day of their registration. To participate in the testing, FIs need to login to the CRS Test Window.