Ireland: CRS regulations are released, effective 31 December 2015
The Irish Revenue Commissioners have confirmed that the necessary statutory instrument to bring the final common reporting standard (CRS) regulations into Irish domestic law was signed 17 December 2015 and is effective 31 December 2015.
Other recent developments concerning the automatic exchange of information (AEOI) regimes, include the publication of updated Irish FATCA FAQs (frequently asked questions) and amended Irish FATCA regulations.
It is expected that an additional statutory instrument would be signed in the coming days, in order to transpose the EU equivalent of the CRS—referred to as the DAC II or DAC 2 (updated directive on administrative cooperation)—into Irish domestic law.
Read a December 2015 report [PDF 182 KB] prepared by the KPMG member firm in Ireland: Irish Revenue Commissioners Release CRS Regulations
