Foreign Account Tax Compliance Act (Fatca)

Sandrine Leclercq, counsel for Baker & McKenzie Luxembourg has outlined the impact of Fatca regulations on the local funds industry.

The US Internal Revenue Service (IRS) has updated its website for information relating to the Foreign Account Tax Compliance Act (Fatca), in preparation for registrations required from August.

Drafts of documents that will need to be filled in and returned to the US Internal Revenue Service as part of Fatca (Foreign Account Tax Compliance Act) regulations have been published by the IRS and US Treasury.

Developing the Swiss asset management brand and resiliency to the same degree as the country's banking sector is a key focus at both the Swiss Funds Association (SFA) and the Swiss Banking Association (SBA).

Jersey has agreed tax measures with the UK in the same style of those earlier agreed with Guernsey and the Isle of Man, describing them as a ‘UK Fatca'.

Colin Camp, managing director Products & Strategy at IT and services provider Dion Global Solutions has warned that so-called Foreign Financial Institutions (FFIs) cannot rest on their laurels just because there is uncertainty over the signing of IGAs...

Guernsey has agreed a tax reporting arrangement with the UK that is modeled along the lines of the US Foreign Account Tax Compliance Act's (Fatca) intergovernmental agreement (IGA).

Nigel Green, chief executive of deVere Group, the world's biggest independent financial advisory firm, has said that on the basis of China's reaction and other factors the US Foreign Account Tax Compliance Act (Fatca) looks as if it is beginning to unravel....

The financial industry is so focused on US Fatca that it is ignoring the risk of other governments implementing their own Fatca, warns IT and consultancy firm CSC.

Amanda Stone, financial services sector manager, and Eugene Skrynnyk, senior manager in the Asset Management Sector Africa at Ernst & Young, have outlined 10 points for institutions to consider in their response to Fatca.