11_2020- The Revenue Administration (Amendment) Act

us$1,000,000.00 as at december 31, 2020 and thereafter at december 31 in any subsequent year; ?information return? means the report required under regulation 6; ?insurance contract? means a contract, other than an annuity contract, under which the issue

11_2020- The Revenue Administration (Amendment) Act

us$1,000,000.00; ?new account? means a financial account maintained by a reporting financial institution opened on or after january 1, 2021, unless it is treated as a pre-existing account in accordance with paragraph (9); ?nfe? or ?non-financial entity?

11_2020- The Revenue Administration (Amendment) Act

us$1,000,000.00.?. (5) a reporting financial institution may not apply the due diligence procedures for a new account to a pre-existing account unless the institution applies the procedures to all pre-existing accounts or a clearly identifiable group of