Tax Authorities Defer Fatca Deadline

thierry-haensenberger-2 — Thierry Haensenberger, senior vice president of business development, Europe, Middle East and Africa, AxiomSL

- By Joanna Wright
- 29 Jul 2015

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

The tax authorities of Luxembourg and Mauritius have extended the reporting deadline under the Foreign Account Tax Compliance Act (Fatca) for firms in their respective jurisdictions to August 31. The reports for the 2014 tax year had been due by July 31.

Fatca requires all financial institutions outside the US to submit reports on accounts held by US citizens to the US tax authority.

Thierry Haensenberger, Luxembourg entity manager and senior vice president for Europe, the Middle East and Africa at AxiomSL, says: "These announcements are not a complete surprise as there have been late changes to the technical submission requirements for Fatca reporting (the formats and validation rules that firms must use) in a number of countries.

"However, it is worth noting this is the second time the deadline for the submission of the first Fatca reports has been postponed in Luxembourg. The original deadline was June 30. This was pushed back to July 31. It has now been postponed again until August 31."

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@waterstechnology.com

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@waterstechnology.com

More on Regulation

DSB says industry is ready to meet UPI mandate ahead of deadline

The Unique Product Identifier will be required for certain OTC derivatives in the EU at the end of April, following US adoption in January.

18 Apr 2024

‘Very careful thought’: T+1 will introduce costs, complexities for ETF traders

When the US moves to T+1 at the end of May 2024, firms trading ETFs will need to automate their workflows as much as possible to avoid "settlement misalignment" and additional costs.

09 Apr 2024

Court case probes open-source licenses as movement stands at crossroads

The Software Freedom Conservancy’s lawsuit against TV-maker Vizio begins trial in California, raising questions about open-source licenses and the risks posed by adhering to them.

29 Mar 2024

Waters Wavelength Podcast: Countdown to T+1

DTCC’s Val Wotton joins the podcast this week to discuss the impending move to T+1 in the US.

29 Mar 2024

Consolidated tape hopefuls gear up for uncertain tender process

The bond tapes in the UK and EU are on track to be authorized in 2025. Prospective bidders for the role of provider must choose where to focus their efforts in anticipation of more regulatory clarity on the tender process.