Tax compliance

FATCA

United Arab Emirates have signed the FATCA Intergovernmental Agreement between UAE and USA (Intergovernmental Model 1 Agreement Foreign Account Tax Compliance Act) with the US ambassador, on the 17th June 2015.

This agreement requires Financial Institutions to identify financial accounts held by U.S. citizens or by entities that are incorporated in the U.S. or controlled by certain U.S persons and report those accounts annually to the tax Authority.

Aton Capital Markets Limited is registered under Model 1b IGA and the Global Intermediary Identification Number (GIIN) is R9753H.00021.ME.784.

In order to comply with FATCA requirements Aton Capital Markets Limited requires clients to complete W-8 tax forms that confirm their FATCA status for the purpose of US tax legislation. W-8 forms can be found through the links below:

More information regarding FATCA can be found through the links below:

CRS

The Common Reporting Standard (CRS) has been initiated by the Organization for Economic Cooperation and Development (OECD) aiming at improving international tax compliance and preventing tax evasion, through the automatic exchange of information between the countries that implement CRS.

The UAE started the reporting of information for tax purposes in 2018.

For more information about the Common Reporting Standard, please visit the following links:

How this will affect you

Since we need to comply with the requirements of the CRS we ask our potential clients to provide us with the necessary tax information in the form of a:

Accounts held by Aton Capital Markets Limited that fall within the scope of a Reportable Account in the CRS, will be subject to reporting on an annual basis.

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