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- May 26, 2022
- 1 min
BVIFars Portal Fee Update!
On May 18, 2022, the British Virgin Islands (BVI) Ministry of Finance, International Tax Authority (ITA), published an announcement that users of the BVIFars Portal will not be charged the annual fee for use of the portal on September 1, 2022. Instead, the fees will be implemented later in 2022. The ITA will publish an official notice soon. Check out the BVI ITA announcement here: https://bvi.gov.vg/media-centre/fee-implementation-update #BVI #BVIUpdates #BVIMOF #BVIITA #B
- May 23, 2022
- 1 min
DRAFT 2022 Form 8804!
On May 19, 2022, the Internal Revenue Service (IRS) published a DRAFT 2022 Form 8804, Annual Return for Partnership Withholding Tax (Section 1446). The changes include: Updated Line 6d, now states, Section 1445(a) or 1445(e)(1) tax withheld from or paid by the partnership identified on line 1a during the tax year for a disposition of a U.S. real property interest (enter only amounts reported on Form(s) 8288-A and attach the Form(s) 8288-A to Form 8804). Updated Line 6e, now
- May 20, 2022
- 1 min
HMRC Brings in More than £500 million through AEoI
On May 17, 2022, in a keynote speech Lucy Frazer MP, Financial Secretary to the Treasury, stated that the increase in global transparency ha
- May 20, 2022
- 1 min
Swiss Federal Council Announces AEoI with 12 Additional Partner States
On May 18, 2022, in Switzerland, the Federal Council adopted the dispatch on the introduction of the automatic exchange of information (AEoI
- May 20, 2022
- 1 min
HMRC Updates Internal Manual For Tax Compliance Risk Management
In May, HM Revenue and Custom (HMRC) updated its internal manual related to Tax Compliance Risk Management. This guidance is for Large Busi
- May 19, 2022
- 1 min
Taiwan Extends CRS Reporting Deadline to August 1
On May 18, 2022, the Taiwan Ministry of Finance announced its plans to extend the reporting period for 2021 financial account information re
- May 17, 2022
- 1 min
China Extends its CRS Reporting Deadline!
China’s State Administration of Taxation announced on its Multlateral Tax Data Service Platform that the deadline for submitting Common Repo
- May 17, 2022
- 1 min
New IRS FAQs for file sharing during LB&I Audits
The Internal Revenue Service (IRS) published a set of Frequently Asked Questions (FAQs) related to the Large Business and International (LB&
- May 12, 2022
- 1 min
New QI, WP, WT FAQ 20!
On May 10, 2022, the Internal Revenue Service (IRS) published a new Qualified Intermediary (QI), Withholding Foreign Partnership (WP), and W
- May 10, 2022
- 1 min
ATO Matters Under Consultation - AEOI Guide and Toolkit
In case you missed it, the Australian Taxation Office (ATO) registered an Automatic Exchange of Information (AEOI) guide and toolkit for Rep
- May 10, 2022
- 1 min
DRAFT Instructions for Requester of Forms W-8!!
On May 7, 2022, the Internal Revenue Service (IRS) published DRAFT Instructions for the Requester of Forms W-8BEN, BEN-E, ECI, EXP, and IMY,
- May 10, 2022
- 1 min
OECD Publishes CARF Comments and Invitation to Public Consultation!
On May 2, 2022, the Organisation for Economic Cooperation and Development (OECD) published comments received with respect to the Crypto-Asse
- May 10, 2022
- 2 min
New Publication 1187 as of May 2022!
On May 4, 2022, the Internal Revenue Service (IRS) published an updated Publication 1187, Specifications for Electronic Filing of Forms 1042
- May 5, 2022
- 2 min
Notice 2022-23 Proposed Amendments to the QI Agreement!
On May 3, 2022, the Internal Revenue Service (IRS) published Notice 2022-23 which sets forth the proposed amendments to the Qualified Interm
- May 3, 2022
- 2 min
Bermuda CRS Deadlines Extended and Reminders!
On April 28, 2022, the Bermuda Ministry of Finance (the Ministry) published a notice of extended CRS deadlines and other reminders. Due to
- Apr 29, 2022
- 1 min
IRS Announces IDES Testing Session From June 6 through July 1, 2022!
On April 27, 2022, the Internal Revenue Service (IDES) published Issue Number 2022-02 regarding the Foreign Account Tax Compliance Act (FATC
- Apr 29, 2022
- 1 min
IRS Invites Recommendations on 2022-2023 Priority Guidance Plan
On April 26, 2022, the Internal Revenue Service (IRS) published Notice 2022-21, which invites the public to recommend items that they should include in the 2022-2023 Priority Guidance Plan. Each year, the Treasury Department’s Office of Tax Policy and the IRS use the priority Guidance Plan to identify and prioritize tax issues that they need to address via regulations, revenue rulings, revenue procedures, notices, and other administrative guidance. Although there is no for
- Apr 29, 2022
- 1 min
UK Extends Rules Implementing CRS!
On April 25, 2022, the International Tax Compliance (Amendment) Regulations 2022 were made and then laid before the House of Commons on April 26, 2022. They will enter into force on May 18, 2022. These rules extend the UK legislation implementing its automatic exchange of information agreements relating to the Common Reporting Standard (CRS), specifically to agreements entered into as of April 20, 2022. Check out the International Tax Compliance (Amendment) Regulations 2022
- Apr 29, 2022
- 2 min
Singapore FATCA Updates!
On April 25, 2022, the Inland Revenue Authority of Singapore (IRAS) published an announcement regarding Foreign Account Tax Compliance Act (
- Apr 25, 2022
- 1 min
Publication 519 For Use in Preparing 2021 Returns is Now Final!
On April 20, 2022, the Internal Revenue Service (IRS) posted a final version of Publication 519, U.S. Tax Guide for Aliens, for use in prepa
- Apr 22, 2022
- 2 min
IRS Begins Sending Notices CP2100 and 2100A!
In case you missed it, the Internal Revenue Service (IRS) announced that beginning in mid-April, it will be sending out Notices CP2100 and 2
- Apr 19, 2022
- 1 min
New IGA between Kazakhstan and the United States
On April 5, 2022, a new Model 1 Intergovernmental Agreement (IGA) between Kazakhstan and the United States entered into force.
- Apr 19, 2022
- 1 min
Guernsey FATCA and CRS Reporting Reminders!
On April 13, 2022, the States of Guernsey Revenue Service issued Bulletin 2022/3 under the provisions for the Foreign Account Tax Compliance
- Apr 13, 2022
- 1 min
BVIFARS Portal Fees to Begin September 2022!
In case you missed it, the International Tax Authority (ITA) of the British Virgin Islands (BVI) published a notice for any entities required to report under the Common Reporting Standard (CRS), Foreign Account Tax Compliance Act (FATCA), and Country-by-Country Reporting (CbCr). Beginning September 1, 2022, entities required to report under these regimes and that are enrolled in the BVIFARS Portal will be subject to an annual fee of $185. The ITA intends for these fees to c