On 30 August 2017, the Department of International Tax Cooperation issued an update with respect to U.S. FATCA and the Common Reporting Standard:

The deadline for FATCA and CRS reporting is 31 August 2017, HOWEVER, due to technical difficulties with the AEOI Portal, the Portal will remain open until 4pm on the 13 September 2017 for submission of reporting, registrations and notifications prior to the closure of the Portal for the preparation of data for transmission.

How the DMS International Tax Compliance Group can help

As a leading provider of International Tax Compliance ("ITC") services, DMS has been at the forefront of discussions with managers across the U.S., Europe and Asia on how best to comply with the increased volume and responsibility of CRS and FATCA reporting. With CRS filings due for the first time across fifty four countries, we have specifically seen strong interest from our global client base in delegating the AEOI function to a third party that has the resources and expertise to ensure full compliance. As the filing deadlines approach, the DMS ITC team would welcome the opportunity to further discuss our ITC solutions and any new requirements you may have.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.