TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Foreign Account Tax Compliance Act - Extension to 2015 filing deadline

The deadline for 2015 Foreign Account Tax Compliance Act (FATCA) filings is extended from 30 June 2015 to 31 July 2015. FATCA requires Irish financial institutions to collect and return certain information on US account holders to the Irish Revenue. The information will then be exchanged with the US tax authorities.

FATCA returns must be filed using Revenue Online Service, and so a tax reference number and a ROS registration are required to file the FATCA return. Any financial institution which does not have a tax reference number or which is not registered for ROS should obtain a tax reference number and register for ROS without delay. Revenue has published a guide on filing a FATCA return with them via ROS.

FATCA is provided for in section 891E Taxes Consolidation Act 1997 and by Regulations S.I. No. 292 of 2014. Information on FATCA and FAQs are available on the Revenue website.