February 5 2020

Tax administration updates FAQs on general FATCA issues

Source: IBFD Tax Research Platform News

In a newsletter of 4 February 2020, the Liechtenstein tax administration announced that it had released updated frequently asked questions (FAQs) on the Foreign Account Tax Compliance Act (FATCA) under the heading of FACTA-AQs.

The additions, among other things, address:

  • the validity of IRS forms and "Similar Agreed Forms";
  • the mandatory collection of US tax identification numbers for reporting periods from 2020; and
  • obtaining self-disclosure data on discretionary distributions.