FATCA POLICY

FATCA overview
FATCA overview

The Foreign Account Tax Compliance Act commonly called FATCA was enacted by the United States of America on March 18th 2010 to prevent Tax evasion by US citizen and residents through the use of offshore accounts.

This law apply to non-US Financial Institutions. The purpose of FATCA is to detect and to discourage offshore tax-evasion through increased transparency, better reporting of fraud and strong penalities.

Tunisia adopted Model 1, "IGA" "Inter Governmental Agreement " signed on May 13th 2019 between Tunisia and the United States.

Central Bank of Tunisia instructed the authorized intermediaries (CBT Circular n°2014-26 of December 5th 2014) to directly communicate the information’s to the ministry of finance which, in its turn, provides the information to the IRS "Internal Revenue Service" through an automatic information exchange program.

Tunis International Bank is fully compliant with the Foreign Account Tax Compliance Act (FATCA). The bank is required to carry out the necessary due diligence to identify among its customers American Persons and declare their accounts and assets.

GIIN (Global Intermediary Identification Number) - 9MM959.00006.ME.788

Foreign TIN (Tax Identification Number) - 0014137QNM000

In case there are any US indicators identified as per FATCA regulations, Tunis International Bank may request additional information’s from its customers and to complete additional documents.

Form W9: An Internal Revenue Service (IRS) form to be completed by US citizens and disclose tax information to the IRS, including name, address and tax identification number of US citizens.

Form W8 - BEN: An Internal Revenue Services form used by non-US citizens in order to claim exemption from certain tax withholdings.

Form W8 - BEN - E: Internal Revenue Services form used by foreign entities to confirm their status under FATCA.

Additional W-Forms and Guidance from the IRS Website

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