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FATCA XML Schema
Deloitte Malta Tax Alert
The Malta Inland Revenue Department (‘IRD’) has announced that, as from 16 January 2017, all FATCA reports, filed with the IRD in XML format through the Automatic Exchange of Information reporting portal, must be created using FATCA XML schema version 2.0 (the ‘Schema v2.0’). The introduction of the Schema v2.0 replaces version 1.1 which has been the applicable format for FATCA XML reporting.
The possibility for Reporting Malta Financial Institutions to make use of the excel spreadsheet for the submission of FATCA reports is still expected to be offered.
The IRD has published the guidelines highlighting the changes to the Schema v2.0.