FATCA and CRS

What is FATCA?
The US government intends to combat tax evasion in the United States more intensively. As such, the Foreign Account Tax Compliance Act (FATCA) was enacted i...
Wed, 25 Nov, 2020 at 11:03 AM
Who needs to abide by FATCA?
All foreign countries who have signed the FATCA Intergovernmental Agreements (IGA). Mauritius has signed the FATCA IGA on 2013.
Wed, 25 Nov, 2020 at 11:04 AM
What is the obligation of Mauritius under FATCA IGA?
All financial institutions in Mauritius should collect data of their US customers (resident/citizen) through a self-certification form.
Wed, 25 Nov, 2020 at 11:05 AM
What is a TIN?
A Taxpayer Identification Number (TIN) is an identifying number used for tax purposes in the United States it is issued by the Internal Revenue Service (IRS).
Wed, 25 Nov, 2020 at 11:07 AM
Who is impacted by FATCA?
The FATCA has an impact on all US citizens and businesses that are owned by US Citizens. This includes US passport holders, who live abroad and Dual nationa...
Wed, 25 Nov, 2020 at 11:08 AM
What is the obligation of Global Primex Limited under the FATCA rule?
Whenever required, Global Primex Limited will be under the obligation to provide a report to the Tax authorities in US.
Wed, 25 Nov, 2020 at 11:09 AM
Will my tax information be shared under Mauritius law?
Even if Mauritius has a privacy or secrecy laws, under the FATCA rule, FFI are under the obligation to report required information to the Tax authorities in...
Wed, 25 Nov, 2020 at 11:12 AM
What is CRS?
Common Reporting standard (CRS) is similar to Foreign Account Tax Compliance act (FATCA). The same reporting is extended to non-US jurisdictions. CRS is de...
Wed, 25 Nov, 2020 at 11:12 AM
Who needs to abide by CRS?
All non-US residents/citizens.
Wed, 25 Nov, 2020 at 11:13 AM
What is the obligation of Mauritius under CRS?
All financial institutions in Mauritius should collect data of their Non-US customers (resident/citizen) through a self-certification form.
Wed, 25 Nov, 2020 at 11:13 AM