FATCA - CubeIQ Blog - CubeIQ Limited

As FATCA (Foreign Account Tax Compliance Act) is executed in full from Tax Authorities and Financial Institutions in the majority of EU Member States, we are publishing a document with Frequent Asked Question on what FATCA is imposing on US Citizens and US Green Card holders.

Automatic Exchange Of Information between EU Member States, schedule and deadlines.

European Commision Directive 2003/48/EC, "The European Union Savings Directive - EUSD", is repealed.

CubeIQ’s FATCA reporting module is an add-on to PCS™ FATCA enhanced EDD Reporter™ module and it is a full web based application with multiple functions which enables Financial Institutions to meet their FATCA reporting mandates.

Automatic exchange of information in E.U. or International level has increase the burden for mandate reporting to E.U. financial institutions.

Cooperation of EU Member States and Non-EU jurisdictions for automatic exchange of information (“AEI”) for tax purposes starting in 2017 for all financial information related to 2016 transactions.

The European Council of Economic and Financial Affairs (ECOFIN) on October 14th, 2014 agreed to an amendment of the Directive on Administrative Cooperation in the Field of Taxation ("DAC"), adopting EU Directive 2014/107/EU.

FATCA signed into law by US President at March 18th 2010 and its implementation over the past several years has triggered creation of corresponding regulations and legislations within EU member states and European Union and non-EU jurisdictions.