Thomson Reuters Launches Fatca Compliance Suite
The suite will enable foreign financial institutions (FFIs) to collect, manage and report all information relating to liability to taxation to the US Internal Revenue Service (IRS), as is now mandated under FATCA, which came into effect on New Year's Day.
"Fatca compliance will require a multi-disciplinary approach that will touch many points across an organization," says Laurence Kiddle, commercial director, Fatca, Thomson Reuters. "Thomson Reuters has brought together a number of leading tried and tested technologies, spanning governance, risk, compliance, tax and accounting to enable compliance with this new direction in taxation regulation. This approach makes us uniquely placed to provide a full, and modular, solution that can help institutions fulfil and comply with the obligations they are under and supports every stage of the challenges they will face as a result of Fatca."
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