On the 11th January 2017, the Inland Revenue Department published a new FATCA Schema – FATCA XML schema version 2.0. It is pertinent to note that ALL reports (new, corrected, amended, and void), as from 16th January 2017, need to be done using the new FATCA Schema.

This table highlights the new changes.

Authors: Dr Anthony Cremona and Dr Abigail Galea.