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GAPS GET ACCOUNTING POLICES SIMPLER & EASIER THURSDAY 03, & TUESDAY, 08 JULY 2014 REGISTRATION: 13:45 14:00 SEMINAR TIME: 14:00 17:15 VENUE CORINTHIAN SANG ORG, ST GEORGES BAY ST JULIAN SPEAKER JOHN
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Who needs gapse:
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What is gapse?
GAPSE stands for Global Account Tax Compliance Act (GATCA) and Standard for the Automatic Exchange of Financial Account Information. It is an international tax compliance requirement to combat tax evasion by exchanging information about offshore accounts.
Who is required to file gapse?
Financial institutions and governments of participating countries are required to file gapse.
How to fill out gapse?
To fill out gapse, financial institutions need to collect information about their account holders and report it to their local tax authorities, who will then exchange this information with other jurisdictions.
What is the purpose of gapse?
The purpose of gapse is to increase transparency and prevent tax evasion by providing tax authorities with information about offshore accounts held by their residents.
What information must be reported on gapse?
Financial institutions must report information such as the account holder's name, address, tax identification number, account balance, and income earned on the account.
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