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

Revised Guidance on Implementation of FATCA in Ireland

The Department of Finance has published revised draft guidance on the implementation of FATCA (Foreign Account Tax Compliance Act) in Ireland. These notes are guidance for financial institutions on how to comply with their obligations under the Financial Account Reporting Regulations 2014.

FATCA provides for the automatic reporting and exchange of information in relation to accounts held in Irish Financial Institutions by US persons, and the reciprocal exchange of information regarding US accounts held by Irish people. Legislation to implement the Agreement was contained in Finance Act 2013 and accompanying draft regulations and guidance were prepared and interested parties were invited to comment on the notes.

Revised draft guidance notes have now been developed, and interested parties are once again invited to send their comments/observations to Revenue by 21 May 2014. Further details and the draft revised notes are published on the Department of Finance Tax Policy website.