The South African Revenue Service (SARS) updates AEOI BRS alignment to the new FATCA Schema version 2.0

December 15, 2016

The South African Revenue Service (SARS) published today an update to the BRS for AEOI bringing it in line with the new FATCA Schema version 2.0. The Inland Revenue Service (IRS) in the USA updated their Foreign Account Tax Compliance Act (FATCA) communication schema from Version 1.1 to Version 2.0 (effective 1 January 2017). It was therefore necessary to align the SARS AEOI BRS. The latest AEOI BRS for production implementation is now Version 2.0.0-25. This BRS is applicable for the 2017 submission period.

The announcement can be found here in the “What’s new” section on the SARS website.

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