Spain
BdE Public Taxonomy Update
Te Bank of Spain has published an updated version of Public Taxonomy. The changes relate to the definition of the data model of concepts requiring the classification of the credit risk of exposures and the suppression of templates PI 11 to PI 13 derived from the regulation on guaranteed bonds. The new version of the taxonomy is effective for the reporting period ending on March 31st, 2023.
Germany
BBK RBC Taxonomy Validations Update
The BBK has updated the list of validations for RBC Taxonomy. Due to the update, the percentage performance indicator in rule x170, should be between 0% and 1,000% (previously between 1% and 1,000%). The changes are applicable from December 31st, 2022.
United Arab Emirates
The United Arab Emirates Ministry of Finance issued "Guidance for the Implementation of the Provisions of Cabinet Decision No. (63) Of 2022 Concerning The Implementation of the Agreement between the Government of The United Arab Emirates and The Government Of The United States Of America Concerning The Foreign Account Tax Compliance Act."
The key objective of this Guidance is to provide guidance to UAE Financial Institutions subject to the provisions of the Agreement (Agreement between the Government of the United Arab Emirates and the Government of the United States of America) and the “FATCA Resolution.”
Guernsey
FATCA: Guernsey Revenue Service published "Bulletin 2023/3 FATCA Tax Identification Numbers (TINs) & IRS Notice 2023-11."
For calendar year 2022 reports, for missing US TIN, RFIs can use either:
– TIN Codes issued by the IRS in May, 2021, or;
– Updated TIN Codes to be issued by the IRS in early 2023.
For 2023 and 2024, RFIs must use the 2023 updated TIN Codes issued by the IRS.
France
FATCA: XML Specification ("Electronic Transfer of Information Under FACTCA – Specifications") updated to v4.6
The following sections were updated:
3.3.2, 3.3.10, 5.1.1, 5.1.2, 5.2.1, 5.2.4, 5.3.1, 5.3.2.3, 5.3.5, 5.4, 5.5, 5.6.
The updates are related to:
-Requirements for the “contact” element (it is now mandatory and must contain SIREN or IDSP);
-File naming rules;
-File compression and encryption
FATCA: Deadlines for the submission of FATCA reports using the online declaration service (Télé-TD) have been published.
March 9th, 2023 – opening for testing
May 3rd, 2023 – opening for FATCA filing
July 31st, 2023 – deadline for filing valid FATCA reports
August 2nd, 2023 – closure for FATCA reporting
October 3rd, 2023 – reopening to handle FATCA reports
December 18th, 2023 – closure of the testing and for handling FATCA files
