Delays in FATCA Compliance Rules and the Effect on FFIs and Account Holders
Although FATCA (Foreign Account Tax Compliance Act) was passed in 2010, it has seen numerous delays in implementing the information sharing and reporting requirements that are at its core. This has given something of a reprieve to foreign financial firms (FFI) who have struggled to adjust to the new information sharing regime mandated by the […]
How IGAs Under FATCA Are Creating a Shortcut to Global Tax Collection
The widely discussed mandates of FATCA on foreign governments and banks to provide information about US account holders is about to take on a new dimension. One of the recent outcomes of FATCA has been the advent of intergovernmental agreements or IGAs to facilitate transfer of information from foreign banks to the IRS. The Beginning […]
