BASSETERRE, St. Kitts, September, 15th, 2015 (Inland Revenue Department) – The FATCA Competent Authority for the Federation of Saint Kitts and Nevis announces the start of online enrolment and data submissions for ALL Financial Institutions registered with the United States Internal Revenue Service (IRS) as Foreign Financial Institutions (FFIs).
Financial Institutions in the Federation will be required to report on US persons’ income, from financial assets that are held within the Federation, to the Government of Saint Kitts and Nevis’ Competent Authority. The Saint Kitts and Nevis’ Competent Authority will then submit the required information to the IRS. The first exchange of information to the IRS for 2014 data will be made by September 30, 2015.
The FATCA Competent Authority invites ALL FFIs to a second brief demonstration of the St. Christopher (St. Kitts) and Nevis FATCA Portal which will be used for enrolment and filing, on Friday September 18, 2015 at the John Gumbs Building, Bay Road, Basseterre, St. Kitts and the Red Cross Building, Charlestown, Nevis at 10:00am. Both sessions will be held concurrently. Financial Institutions that were unable to attend the first scheduled demonstration on September 15, 2015 are encourage to attend.
FFIs that are interested in attending the presentations must contact the Inland Revenue Department at (869)465-8485 ext. 3511 in St. Kitts and (869)469-5856 in Nevis, to confirm your attendance. Email confirmations can also be sent to fatca@sknird.com indicating which of the two sessions you will be attending.
The online Portal opens for enrolment on Thursday September 17, 2015 and all filings are due no later than Monday September 21, 2015. Your contact information is important to us so that FATCA related updates can also be provided to you as quickly as possible.
For further St. Kitts and Nevis FATCA updates and information, visit the St. Kitts and Nevis FATCA Competent Authority information page at www.sknird.com.
The Inland Revenue Department is charged with administering the tax laws of the Federation in an efficient and equitable manner, to promote voluntary compliance to maximize Revenue for the development of the Federation at the least cost to the public and in a manner that warrants the highest degree of Public confidence in our integrity, efficiency and fairness. The Inland Revenue Department is the prime revenue collections agency for the Government of St. Kitts and Nevis within the Ministry of Finance, located at Bay Road, Basseterre, and Charlestown, St. Kitts and Nevis, West Indies.
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