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FATCA - Format informatique et procédure
d’envoi des informations
FATCA - IT-format en verzending
van gegevens
May 5, 2015
In cooperation with
Programme
Introduction : Rappel du contexte et du
calendrier FATCA
14:00 Inleiding: Korte schets van de context en het
FATCA-tijdschema
Le cadre légal et réglementaire De regelgeving
Le format informatique
SPF Finances
Format informatique et spécificités « belges »
Mode de transmission des informations au SPF
Finances : présentation du nouveau portail
L’environnement de test : quand et comment ?
‘Nihil reporting’ : obligations des institutions
financières sans ‘US persons’
Ressources online
14:15 Het IT-format:
FOD Financiën
IT-format en ‘Belgische’ specificaties
Verzending van gegevens naar de FOD Financiën:
voorstelling van de nieuwe portaalsite
Tests: hoe en wanneer?
‘Nihil reporting’: verplichtingen van de financiële
instellingen zonder ‘US persons’
Online voorzieningen
Q&A 15:30 Q&A
5/5/2015 2
“The era of bank secrecy is over”
G-20, April 2009
Supported by the OECD 5/5/20153
4
‘Hire Act’ US
Joint
Statement
US+Big5
‘Doubts period’
FATCA : origin & developments
2010 2/2012 7/2012 2013
Towards IGA’s
IGA
DE
IGA
IE
IGA
DK
IGA
BEIGA
UK
Model IGAFinal
Regulations
IGA
FR
IGA
NL
Strong legal
concerns/issues in
the EU
Crisis
+
International tax evasion
5/5/2015
2008
5
Belgian
Legislation
AEOI
FATCA : origin & developments
2014 June/July 2015 ???
First FATCA
Reporting
Draft
Guidance
BE
5/5/2015
Final
Guidance
BE
Belgian IGA
Steven Vanackere, December 2012
+ in parallel : development of the CRS OECD & EC Cooperation Directive
Reporting only
possible if the
appropriate legal
framework exists !
Febelfin works on FATCA
2010-2012
Recognitionphase : legal andpractical issues
2013
Draft IGA + Draft Belgian
Guidance
2014-2015
Implementationand IT issues
| 65/5/2015
In parallel of FATCA : extension of the “Global” AOEI Administrative cooperation Directive & the ‘Common Reporting Standard’
OECD : Common Reporting Standard• One single uniform system
• Content may vary but is intended to be broad : all type of income
(savings, professional income, real estate, dividens, capital gains, royalties, …)
EU Commission : Administrative Cooperation Directive• All EU countries
• On all type of revenue : interests, dividends, capital gains, …
• Overlap with the (existing) Savings Directive
+ Extension/integration of the Savings DirectivePersonal and material scope will be integrated in the AC Directive
75/5/2015
Overlap
Automatic exchange of tax information in Belgium An overview
INT
ER
NA
TIO
NA
LN
AT
ION
AL
Savings Directive= only on interests op persons
AEOI since 2010 (before :
withholding tax)
Savings Directive Broadenend• Also Entities under beneficial owners
• Type of interest-like revenues (insurance)
Considering the agreement, as from 2016 – fi reporting 2017
FATCA - IGA= US rules
Identification of US
persons +
Balances, revenues,
payments
As from July 1, 2014
OECD CRS +
EU AC DirectiveBoth will be integrated in one
common system (also together
with Savings Taks Directive
Parallel to FATCA
Additional
pension scheme= annual reporting
considering the tax
benefit
In force. No difficulty.
SPOC – Bank Secrecy NBB= annual reporting annuel on the ‘existence of’
No balance, no revenue, no operation
New in 2014 for accounts (as from 2010
In 2015 for contracts (as from 2014)
5/5/2015
Possible impact?
integrated
in
Limited convergence between the different tools
Unique Automatic information Exchange
tool
?
Savings Directive
FATCA
CRS - ACD (OECD + EC?)
Other (TRACE, …)?
95/5/2015
Necessity to remain
• Realistic
• Comprehensive
• Efficient
In a first stage : FATCA
and the CRS/DAC will
be 2 coexisting systems
Belgian internal legislation
New Belgian draft legislation= framework for the AEOI
• General framework for Automatic Exchange of Information• Fatca – as from July, 1 2014 - First reporting June, 30 2015
• CRS – Starting January, 1 2016 – First reporting in 2017
Currently in IKW
Adoption before the summer???
Publication BS/MB by June (optimistic) or July-August (realistic)?
5/5/2015 10
• Privacy issues
• AEOI rather new in Belgium
Febelfin wishes clarity from the Authorities, for all stakeholders
(reporting entities and clients) : Official communication needed
GENERAL ADMINISTRATION OF TAXES
FATCA - IT format and
exchange of information
Information session
05/05/2015
GENERAL ADMINISTRATION OF TAXES
12
Introduction: agenda
1. IT Format and Belgian specifications (business rules)
2. Sending data to the FPS Finance: via MyMinfinPro
3. Testing: how and when?
4. “Nihil reporting”
5. Online services
GENERAL ADMINISTRATION OF TAXES
13
1.a. IT Format: Schema
• SCHEMA:
XSD Format defined by IRS
Same format used to send information from the Belgian financial institutions to the FPS Finance
Specifications on each data element and its attribute in the FATCA XML User guide V1.1
GENERAL ADMINISTRATION OF TAXES
• Validations by FPS Finance
Phase 1: validations by the portal MyMinfinPro (XSD)
Phase 2: validations by the back-office FATCA (BR BE)
• Purpose
Improve the quality of the FATCA data that will be transmitted to the
IRS
Avoid that IRS should come back too many times to the Belgian tax
administration to request clarifications on the information that has
been sent before. This would mean that, in most cases, the tax
administration has to go back to the Belgian financial institution.
In accordance with:
XML user guide
IGA BE-US
Experience from the test of FPS Finance on IDES platform (IRS)
14
1.b. IT Format: Validation
GENERAL ADMINISTRATION OF TAXES
2. Sending data to the FPS Finance
• Via MyminfinPro
Prerequisite: role FATCA (see separate
presentation by FedICT)
=> access to MyMinfinPro
15
FATCA role assignment
April 2015Final version
Alexander Arens – Service Manager FEDICT - Identity Access and Authorisation
INEDX
© Fedict 2011. All rights reserved | p. 17
1. High Level Overview 3
2. My eGgov Role Management 6
3. Role Assignement – Acceptation - Validation 8
4. Support & Questions 14
FATCA userFATCA
Identification &
Authorization
User
Legal representative
Chief Access Manager
Providing access
© Fedict 2009. All rights reserved | p. 18
Permissions
FATCA
Role
Work
flow
Access Manager for
Domain FINANCE
1 -Fedict IAA Services – high level overview
© Fedict 2013. All rights reserved | p. 19
2 – My eGov Role Managementhttps://iamapps.belgium.be/rma
Follow invitation workflow – chapter 5 user manual
3. Role Assignement – Acceptation –Validation
3 -Role Assignement – Acceptation -Validation
1 – Access Manager generates and sends invitation
2 – User accepts invitation
3 – Access Manager validates acceptation
4 – User is allowed to access the FATCA Website
Support :
Access Management : Social Security : 02 511 51 51
Fedict Role Management : servicedesk@fedict.belgium.be - 0800 16 586
FATCA Technical : info.myminfin@minfin.fed.be
FATCA Business : spoc.FATCA@minfin.fed.be
QUESTIONS ?
GENERAL ADMINISTRATION OF TAXES
23
1. Connection to MyMinfinPRO:
URL: https://eservices.minfin.fgov.be/portal/fr/public/pro/welcome
2. Choose portal dedicated to enterprises
3. Connect via the selected authentication method (eID or token).
4. Select the authentication mode "in the name of an enterprise“
5. Via the menu FATCA (Production) or FATCA SIMULATION (Test) access the page if you want to send a valid FATCA file or view the history of submitted files and their status.
=> Release in Production: expected on 4/06/2015
2. Sending data to the FPS Finance
GENERAL ADMINISTRATION OF TAXES
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2. Sending data to the FPS Finance
GENERAL ADMINISTRATION OF TAXES
25
2. Sending data to the FPS Finance
GENERAL ADMINISTRATION OF TAXES
26
2. Sending data to the FPS Finance
GENERAL ADMINISTRATION OF TAXES
5
ADMINISTRATION GENERALE DE LA FISCALITE
2. Sending data to the FPS Finance
GENERAL ADMINISTRATION OF TAXES
28
Production
2. Sending data to the FPS Finance
GENERAL ADMINISTRATION OF TAXES
29
Production
2. Sending data to the FPS Finance
GENERAL ADMINISTRATION OF TAXES
30
TEST
2. Sending data to the FPS Finance
GENERAL ADMINISTRATION OF TAXES
31
TEST
2. Sending data to the FPS Finance
GENERAL ADMINISTRATION OF TAXES
3. Testing: Planning
• Phase 1:
Content:
Testing connectivity: Connect to the portal MyminfinPro
(https://eservices.minfin.fgov.be/portal/fr/public/pro/wel
come) based on the role (Fedict) FATCA;
3 validations are performed:► XSD Validation: sending and validation check of the XML file;
► Verification if the financial institution that sent the file corresponds to the
financial institution specified in the XML;
► Verification if the income year selected on the portal MyMinfinPro
corresponds to the income year specified in the XML.
Transmitting an acknowledgment by FPS Finance to
the email address specified in MyMinfinPro.
Planning: possibility to test phase 1 since April 2015
32
GENERAL ADMINISTRATION OF TAXES
3. Test: Planning
• Phase 2
Content:
Testing connectivity: Connect to the portal MyminfinPro
(https://eservices.minfin.fgov.be/portal/fr/public/pro/wel
come) based on the role (Fedict) FATCA;
4 validations are performed :► XSD Validation: sending and validation check of the XML file;
► Verification if the financial institution that sent the file corresponds to the
financial institution specified in the XML;
► Verification if the income year selected on the portal MyMinfinPro
corresponds to the income year specified in the XML.
► Validation of the specific Business rules defined by FPS Finance
Transmitting an acknowledgment by FPS Finance to
the email address specified in MyMinfinPro.
Planning: Possibility to test phase 2 expected on 6/05/201533
GENERAL ADMINISTRATION OF TAXES
4. Nihil Reporting
Who? For all FI’s that have registered on the website of the IRS
and were issued a Global Intermediary Identification
Number (GIIN) and have no reportable accounts.
Purpose
Procedure via MyMinFinPro
34
GENERAL ADMINISTRATION OF TAXES
35
Mandatory
4. Nihil Reporting
GENERAL ADMINISTRATION OF TAXES
5. Online Services
• E-services FATCA URL:http://financien.belgium.be/nl/E-services/fatca/
Regular update
36
GENERAL ADMINISTRATION OF TAXES
5. Online Services
37
• Structuur (nl):
Section “Actueel”
Opmaak van FATCA-XML-bestanden
XSD-schema en documentatie
Webtoepassing “EOI XML Tool”
Versturen van FATCA-XML-bestanden
Versturen van FATCA bestanden
Test van de indiening van bestanden
Documentatie
FAQ en documentatie
FAQ
Praktische documentatie
Rechtsgronden en administratieve
akkoorden
Contact
voor technische vragen:
info.myminfin@minfin.fed.be of via het
Contact center: 0257/257 57
voor andere vragen over FATCA:
spoc.FATCA@minfin.fed.be
• Structure (fr):
Section “Actualité”
Création de fichiers XML FATCA
Schéma XSD et documentation
Application Web “EOI XML Tool”
Envoi de fichiers XML FATCA
Envoi de fichiers XML FATCA
Envoi de fichiers test
Documentation
FAQ en documentation
FAQ
Documentation pratique
Bases légales et accords administratifs
Contact
Pour les questions techniques:
info.myminfin@minfin.fed.be ou via le
Contact center: 0257/257 57
Pour les autres questions relatives à
FATCA: spoc.FATCA@minfin.fed.be
GENERAL ADMINISTRATION OF TAXES
5. Online Services
• EOI XML Tool In development:
Web-based application
Purpose: a backup tool for FIs with a limited number of
reportable accounts to allow them to generate a valid
FATCA XML-file through manual input of data
elements.
Submitting the FATCA file via MyMinFinPro is still
necessary
Planning:
Availability on the e-services webpage expected on
4/06/201538
GENERAL ADMINISTRATION OF TAXES
Questions ?
39
GENERAL ADMINISTRATION OF TAXES
Contact points
40
Voor technische vragen:
- info.myminfin@minfin.fed.be
- of via het Contact center:
0257/257 57
Voor andere vragen over
FATCA:
- spoc.FATCA@minfin.fed.be
Pour les questions techniques:
- info.myminfin@minfin.fed.be
- ou via le Contact center:
0257/257 57
Pour les autres questions
relatives à FATCA:
- spoc.FATCA@minfin.fed.be
Febelfin vzw/asbl
Belgian Financial Sector Federation
www.febelfin.be
THANK YOU!