United Arab Emirates MOF Issues FAQs on AEOI Portal for Submitting FATCA, CRS Reports

The Emirati Ministry of Finance July 26 issued FAQs on the automatic exchange of financial account information (AEOI) portal for financial institutions required to submit Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) reports. Topics covered include: 1) guidelines to help reporting financial institutions (RFIs) register their information on the portal; 2) steps to follow when a RFI isn’t able to register or log in to the portal; 3) instructions to follow when there are multiple regulatory authorities; 4) instructions to follow when there are data validation errors; 5) events under which entities aren’t required to file ...