MRA Issues Communique on Foreign Account Tax Compliance Act (FATCA)

On 1 June 2021, the MRA issued a communique to inform all concerned parties that the US Revenue Authority, the Internal Revenue Service (IRS), has published the answer to a new Frequently Asked Question (FAQ) as Q6 under Reporting on the FATCA FAQs page.

Find the FAQ page here.

This FAQ provides all of the required information regarding the new optional TIN codes in the FATCA XML Schema.

The Tax App To Manage Compliance