Ireland releases eBrief on FATCA and CRS

In addition to the updated Guidance Notes on the Implementation of the Foreign Account Tax Compliance Act (“FATCA”) on 9 December 2019 (Link-Blog), Irish Tax and Customs, on 12 December 2019, released Revenue eBrief No. 213/19. This eBrief contains an update to the Filing Guidelines for FATCA and the Filing Guidelines for DAC2-Common Reporting Standard (“CRS”) (Link). For FATCA, the Tax and Duty Manual Part 38-03-25 (Link) has been updated to include the following:

  • Update on Account Holder TIN XML schema element
  • Clarification on valid ROS characters
  • Details of FATCA XML forbidden and restricted characters

For CRS, the Tax and Duty Manual Part 38-03-26 (Link) has been updated to include the following:

  • Clarification on valid ROS characters

In addition, on 18 December 2019, Irish Tax and Customs released an update of Revenue Guide to Automatic Exchange of Information (AEOI) for Financial Account Holders. Tax and Duty Manual Part 38-03-24 has been updated by the addition of paragraph 17, containing a summary of new “Relief Procedures for Certain Former Citizens” recently announced by the U.S. Internal Revenue Service (“IRS”).

While every effort is made by Irish Tax and Customs to ensure that the information given in these guidelines is accurate, it is not a legal document. Responsibility cannot be accepted for any liability incurred or loss suffered as a result of reliance on any matter published.

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