Saint Lucia issues new versions of the FATCA and CRS Guidelines

In May 2019, the Island of Saint Lucia’s Inland Revenue Department (“IRD”) released v.5.1 of its Foreign Account Tax Compliance Act (“FATCA”) Guidelines and Procedures (Link). These guidelines highlight some of the issues concerning FATCA reporting in Saint Lucia, and must be used in conjunction with the FATCA Intergovernmental Agreements (“IGA”), Internal Revenue Service (“IRS”) guidelines, the relevant laws of Saint Lucia, and any other documents distributed by the IRD and IRS with respect to FATCA.

In addition, in June 2019, the Island’s Common Reporting Standard (“CRS”) Guidelines were updated to version 3.0 (Link).

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