World Business NewsA round up of the latest news for those doing business internationally
IRS issues its first FATCA Financial Institutions list
Zone(s): USA ¦ Sector(s): Tax
FATCA, enacted by the US Congress in 2010, is intended to ensure that the US obtains information on accounts held at FFIs by US persons. Failure by an FFI to disclose information on their US clients will result in a requirement to withhold 30 percent tax on payments of US-sourced income.
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