Italy Enacts FATCA Order and Modifies Deadline

Sovos
April 24, 2017

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.

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Sovos was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction controls, tax reporting and more. Sovos customers include half the Fortune 500, as well as businesses of every size operating in more than 70 countries. The company’s SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe, and is owned by Hg and TA Associates.
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