Ireland Tax Agency Updates Guidance on AEOI-CRS

The Irish Revenue Commissioners April 2 issued Revenue eBrief No. 104/24, and updated guidance on standards for the automatic exchange of information (AEOI) on financial accounts under the common reporting standard (CRS). Topics covered include Ireland’s elected CRS implementation options, tax identification numbers (TINs), reportable and excluded accounts, and schema reporting requirements. The guidance is updated to clarify: 1) the obligations of a Reporting Financial Institution when a taxpayer’s self-certification fails the reasonableness check at account opening; and 2) when a Reporting Financial Institution that is an Irish-regulated fund is considered closed for CRS reporting purposes, and no longer a ...