Final Fatca Regulations Published In Federal Register
The final regulations of the Foreign Account Tax Compliance Act (Fatca) have been published in the US Federal Register, providing clarity about what firms need to do to comply with the US anti-tax evasion regulation.
Fatca will require non-US financial firms to report information to US tax authorities about financial accounts held by US taxpayers, or by foreign entities in which US taxpayers hold a substantial ownership interest. It also mandates the withholding of tax on US-connected payments
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