The Irish Revenue released three Manuals on implementing the automatic exchange of information. The new guidance replaces the former respective documents.
Part 38-03-22 addresses the implementation of the Foreign Account Tax Compliance Act (FATCA) in Ireland and provides guidance to Financial Institutions on how to comply with their obligations under the Agreement and Under the Financial Accounts Reporting (United States of America) Regulations 2014 (S.I. No 292 of 2014). This Manual replaces the document “Guidance Notes on the Implementation of FATCA in Ireland”.
Part 28-03-23 addresses some frequently asked questions on the interpretation of legislation and regulations which implement the CRS in Ireland. The purpose of this manual is to provide guidance on CRS domestic implementation issues in Ireland which is contained in: (i) Section 891F of the Taxes Consolidation Act (TCA) 1997 (as inserted by Section 28 of Finance Act 2014); and (ii) Return of Certain Information by Reporting Financial Institutions Regulations 2015 (S.I. No. 583 of 2015). This manual replaces the document “Standard for Automatic Exchange of Financial Account Information in Tax Matters (The Common Reporting Standard (CRS)) FAQs”.
Part 38-03-24 addresses some frequently asked questions on the automatic exchange of financial account information from the point of view of financial account holders. The purpose of this manual is to present relevant information on AEOI for Financial Account holders who may be affected by AEOI. This manual replaces the documents “Revenue Guide to Automatic Exchange of Information (AEOI) for Financial Account Holders” and “Foreign Account Tax Compliance Act (FATCA) Information for Account Holders”.
Source: Irish Tax and Customs
With the fast growth of China’s economy and the continuous improvement of the comprehensive strength of domestic enterprises, as well as the implementation of the “One Belt, One Road” policy, an increasing amount of Chinese enterprises are beginning to expand their global footprint and establish their presence in Europe.
TPA Global has developed a practical roadmap of 6 steps meant to guide CFOs in their Journey of rising above troubles to reach a situation of full control. These steps are presented in a series of short video clips (3-5 minutes):