What is FATCA (Foreign Account Tax Compliance Act) /CRS (Common Reporting Standard)?
GO TO DASHBOARDFATCA stands for the Foreign Account Tax Compliance Act. This is in reference to Inter-Governmental Agreement (IGA) entered by Government of India (‘GOI’) with the Government of the United States of America (‘USA) on 9th July 2015 for compliance with Foreign Account Tax Compliance Act (FATCA) and with G20 and Organisation for Economic Co-operation and Development (OECD) Countries (known as Common Reporting Standard - CRS) on exchange of information to combat the problem of offshore tax evasion and avoidance and stashing of unaccounted money. India will provide information to USA about policies held by US persons.
Other countries have also entered an agreement, known as Common Reporting Standard (“CRS”) for exchange of information.
To update your Nationality status as NRI/PIO/OCI/Foreign National or FATCA/CRS details, request you to please send duly filled self certification form by Clicking Here from your registered email id along with mentioned documents in form.