Malta Publishes Revised Guidelines for CRS Implementation

Sovos
April 24, 2017

The Maltese Inland Revenue Division has published an updated version of its CRS implementation guidelines for Financial Institutions. There is only one significant change of which filers should take note – regarding trustee-documented trusts:

During 2017, consolidated reporting by trustees will only be supported through the upload of CRS XML data files using an IRD Secure File Transfer Protocol (SFTP) server. Trustees should apply to use this service by e-mailing the Commissioner for Revenue: irddata.mfin@gov.mt. The guidance also provides the basic structure of a consolidated CRS XML data file for trustee-documented trusts.

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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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