The International Tax Compliance (Amendment) Regulations 2025
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
14 Amendment of regulation 24 (definitions)
In regulation 24— (a) in paragraph 1, before the definition of “the tribunal”, insert— “specified non-reporting financial institution” means a non-reporting financial institution which is a trust within the meaning of Section VIII(B)(1)(e) of the CRS or paragraph II(D) of Annex II to the FATCA agreement, ; (b) in paragraph (2), in the table— (i) omit the entries relating to “specified financial institution” and “specified relevant person”; (ii) in the entry relating to CRS, for “regulation 1(3A)”, substitute “regulation 1(3)(aa)”; (iii) in the entry relating to “participating jurisdiction”, for “Schedule 1”, substitute “regulation 1(7)(d)”; (iv) in the entry relating to “reportable jurisdiction”, in the second column insert “regulation 1(7)(c)”; (v) after the entry relating to “pre-existing entity account”, insert— qualified non-profit entity | regulation 1(7)(b) | Section VIII(B)(10) of the CRS in paragraph 36sexies of the commentary to Section VIII of the CRS ; (vi) after the entry relating to “relevant agreement”, insert— self-certification provider | regulation 12GA specified non-reporting financial institution | regulation 24(1) .
14 Amendment of regulation 24 (definitions)
In regulation 24— (a) in paragraph 1, before the definition of “the tribunal”, insert— “specified non-reporting financial institution” means a non-reporting financial institution which is a trust within the meaning of Section VIII(B)(1)(e) of the CRS or paragraph II(D) of Annex II to the FATCA agreement, ; (b) in paragraph (2), in the table— (i) omit the entries relating to “specified financial institution” and “specified relevant person”; (ii) in the entry relating to CRS, for “regulation 1(3A)”, substitute “regulation 1(3)(aa)”; (iii) in the entry relating to “participating jurisdiction”, for “Schedule 1”, substitute “regulation 1(7)(d)”; (iv) in the entry relating to “reportable jurisdiction”, in the second column insert “regulation 1(7)(c)”; (v) after the entry relating to “pre-existing entity account”, insert— qualified non-profit entity | regulation 1(7)(b) | Section VIII(B)(10) of the CRS in paragraph 36sexies of the commentary to Section VIII of the CRS ; (vi) after the entry relating to “relevant agreement”, insert— self-certification provider | regulation 12GA specified non-reporting financial institution | regulation 24(1) .
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