The Inland Revenue Board of Malaysia (IRBM) announced that the date for submitting FATCA reportable information has been deferred to 30 June 2016 (Link).
On 1 September 2015, the Israel Ministry of Finance announced that the date for information exchange under FATCA would be postponed to September 2016 (Link-Hebrew).
The Mauritius Revenue Authority has issued FAQs about the FATCA Agreement including questions about registration, reporting, financial institutions and nonfinancial foreign entities as well as technical matters (Link).
The Belarus Ministry of Taxes and Levies has published two guidance letters providing explanations with regard to the application of the FATCA Agreement in Belarus and clarifications on how to confirm permanent residency for tax treaty purposes.
On 31 August 2015, St. Kitts and Nevis signed an Intergovernmental Agreement with the U.S. to implement the Foreign Account Tax Compliance Act (“FATCA”) (Link).
On 8 August 2015, the IRS issued an updated version of FATCA International Compliance Management Model (ICMM). The new ICMM validates record-level processing of FATCA 8966 XML files, including report files submitted before 8 August to correct two known errors regarding “Account Holder Type Not Valid” and “Pooled Reporting Type Not Populated”.
Based on the guidance, no response is required by the filer to the abovementioned error messages. The IRS will correct and send notifications for concerned files.
Additional information on this issue can be found under the “Q1” and “Q2” references of the “Field Level Errors” category of the Frequently Asked Questions (FAQs) (Link).
The IRS published the upcoming enhancements to the FATCA Online Registration system on FATCA Online Registration System and FFI List Search and Download Tool Enhancements – Coming late 2015 page (Link).
On 25 August 2015, the Brazilian Presidential Decree n° 8.506/2015 transposing the Brazil-U.S. FATCA Agreement was published in the Official Gazette (Link-Portuguese) and entered into force on 31 August 2015.
On 28 August, the Reserve Bank of India (“RBI”), India’s Central Bank, issued a circular inviting financial institutions to comply with FATCA reporting requirements (Link). The circular includes clarifications on the date of enforcement of the IGA (31 August 2015), the identification of reportable accounts and the alternate procedure for their identification, the due diligence procedures, the treatment of new accounts (opened after 1 September 2015) and the control framework. The circular also states that a detailed guidance note is under preparation by the Central Board of Direct Taxes (“CBDT”).