UAE: Updated FATCA, CRS guidance and policy manual
Updated version of the guidance and policy manual under FATCA and common reporting standard regimes
Updated version of the guidance and policy manual under FATCA and CRS regimes
The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) on 13 June 2023, issued an updated version (v3.1) of the guidance and policy manual under the FATCA and common reporting standard (CRS) regimes.
The update reflects the FSRA’s decision to incorporate the evolution of its enforcement practices and offers more clarity regarding its approach as the regulator of a prominent global financial hub.
The main objective of the updates to the guidance and policy manual was to provide clarity and establish policies that were previously not included. Furthermore, structural improvements have been implemented in the guidance and policy manual to enhance its usability. Additionally, the FSRA has included a new chapter specifically addressing its enforcement approach regarding international tax reporting regulations.
Read a June 2023 report [PDF 472 KB] prepared by the KPMG member firm in the UAE
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