Will an intergovernmental approach ease the burden of FATCA?
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have issued the proposed regulations providing guidance for foreign financial institutions (FFIs), non-financial foreign...
View ArticleFinancial services industry lobbies for FATCA exemption
The Financial Services Council (FSC) has backed calls for an inter-governmental agreement between Australia and the U.S. to facilitate the implementation of the Foreign Account Tax Compliance Act...
View ArticleModel Intergovernmental Agreement to Improve Tax Compliance and to Implement...
Agreement Between the [Government of the] United States of America and [the Government of] [FATCA Partner] to Improve International Tax Compliance and to Implement FATCA Whereas, the [Government of...
View ArticleHong Kong securities regulator warns on FATCA compliance
Hong Kong’s Securities and Futures Commission (SFC) has warned firms in the territory to be prepared for compliance with the U.S. Foreign Account Tax Compliance Act (FATCA), which is set to come into...
View ArticleAustralia sets out to minimise compliance costs with FATCA agreement
The Australian government has signed an intergovernmental agreement (IGA) with the U.S. to streamline financial institutions’ compliance with the Foreign Account Tax Compliance Act (FATCA). Under the...
View ArticleNon-FATCA compliant asset managers face potential fee increases from service...
Asset managers in Singapore risk failing to attract capital and could potentially face increases in service fees from their service providers if they do not comply with the U.S. Foreign Account Tax...
View ArticleNon-U.S. banks get transition period on FATCA tax law
The U.S. Treasury Department said on Friday that the Internal Revenue Service (IRS) this year and next will take into account “good faith efforts” by foreign banks to comply with a new U.S. anti-tax...
View ArticleAs FATCA looms, implementation and enforcement challenges persist
With the implementation of the Foreign Account Tax Compliance Act due on July 1 this year, financial institutions have only a month left to achieve compliance. Many in Asia expect FATCA to have an...
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