The introduction of AIT saw several changes to the Tax Compliance Status (TCS) process, including:
- The consolidation of the “Emigration” TCS pin and the “Foreign Investment Allowance” TCS Pin to create the new “Approval for International Transfer” (AIT) TCS Pin;
- The removal of the Tender option and the need to choose the Good Standing TCS pin for all other scenarios where a 3rd party wants to verify a taxpayer’s compliance;
- The increase in the number of required supporting documents; and
- The need to disclose local and foreign assets and liabilities at cost.