Search Results for: FATCA
Financial institutions believe common reporting standard will be more taxing than FATCA – KPMG
September 21st, 2015
With a Jan. 1, 2016 effective date looming for 50 “early adopter” jurisdictions set to enact a new international Common Reporting Standard (CRS) for reporting financial account information, 61 percent of respondents to a KPMG survey of executives at ...
Fatca law: Taking the IRS to Court
August 21st, 2015
The 2010 Fatca law has made many Americans unbankable overseas. Nancy Pelosi famously said Congress had to pass ObamaCare so Americans could learn what was in it, but that rule applies to other regulatory monsters too. Take Fatca, the ...
Brokers hit the ground running on FATCA compliance
August 3rd, 2015
Training and planning have helped insurance brokers meet new tax reporting regulations for 2015, and compliance is moving into the “another part of doing business” phase. Initial reporting under the Foreign Account Tax Compliance Act, meant to help combat ...
Italy Confirms FATCA Data Instructions
July 29th, 2015
The Revenue Agency has confirmed that it has finalized its instructions for Italian financial institutions (FIs) to transmit their data to comply with the Foreign Account Tax Compliance Act (FATCA) inter-governmental agreement (IGA) between Italy and the United States. ...
FATCA Faces Lawsuit, Taxpayer Advocate’s Criticisms
July 23rd, 2015
As I expected, the Foreign Account Tax Compliance Act (FATCA) and its related controversies have not gone gently into that good political night. For starters, Republican U.S. Senator Rand Paul from Kentucky is part of a legal battle, filed ...
UAE Releases FATCA Guidance, Registration Form
July 22nd, 2015
The Finance Ministry of the United Arab Emirates has released US Foreign Account Tax Compliance Act guidance notes and the registration form for entities to access the FATCA reporting portal. FATCA, enacted by the US Congress in 2010, is ...
India Signs Up For FATCA To Block Black Money
July 20th, 2015
The Indian government’s crackdown on black money is continuing with the signing of a Foreign Account Tax Compliance Act (FATCA) agreement with the USA. Both countries have agreed to swap financial information about bank accounts and investments controlled by ...
Philippines, US Sign FATCA Agreement
July 15th, 2015
On July 13, 2015, Philippines Finance Secretary Cesar Purisima and the US Ambassador to the Philippines, Philip Goldberg, signed an inter-governmental agreement (IGA) to facilitate compliance with the Foreign Account Tax Compliance Act (FATCA). FATCA, enacted by the US ...
Italy Ratifies FATCA Agreement with US
July 10th, 2015
Italy has ratified the inter-governmental agreement top facilitate compliance with the United States Foreign Account Tax Compliance Act. FATCA, enacted by the US Congress in 2010, is intended to ensure that the US obtains information on accounts held abroad ...
BVI Launches FATCA Reporting Platform
May 4th, 2015
The British Virgin Islands (BVI) Government has told financial institutions that the deadline for registration under its newly launched Financial Account Reporting System (BVIFARS) to facilitate FATCA compliance is June 1, 2015. Financial institutions required to submit information to ...
