FATCA & CRS

Arctica Finance is obliged, on the basis of the Income Tax Act, to provide the Iceland Revenue and Customs with a variety of information, including to annually submit information on the income and assets of US taxpayers with reference to the US tax law (e. US Foreign Account Tax Compliance Act - FATCA), as well as to provide information on other foreign taxpayers based on the CRS standard on the exchange of information on financial information (e. Common Reporting Standard).

In these cases, Arctica is obliged to request and receive information from its customers, such as whether the customer has so-called American characteristics, what his tax identification number (TIN – Tax Identification Number) is, etc.