Italy Enacts FATCA Order and Modifies Deadline

April 24, 2017

Tom Hospod

Author

Sovos

This blog was last updated on December 22, 2021

The Italian Internal Revenue Service has published a newly enacted order relative to the implementation of FATCA for this year’s filing season.

This order updates the technical annexes, replacing the previous ones that were used for the last year’s filing. The new specifications are intended to reflect the changes to the IRS FATCA XML Schema that went into effect in January.

Additionally, the order changes the filing deadline for Tax Year 2016 account information from April 30 to May 31, 2017.

There have been several revisions to Italy’s technical specifications, which may be found on pages 7-11 in the Method of Data Transfer and Completion under FATCA 2.0 publication. XML and XSD files for the updated specifications are also available for download.

Tom Hospod

Tom Hospod is a Regulatory Counsel at Sovos Compliance. Within Sovos' Regulatory Analysis function, Tom focuses om Affordable Care Act (ACA) reporting, Tax Withholding, and Automatic Exchange of Information (AEOI). Prior to Sovos, Tom worked as a legislative aide in the Massachusetts House of Representatives. Tom is a member of the Massachusetts Bar, earned his B.A. from Boston College and his J.D. from the University of Miami.

Stay up to date with the latest tax and compliance updates that may impact your business.