Switzerland has signed off on a final Fatca deal with the US, which will see exemptions allowed in areas such as domestic insurance and pensions schemes.
There is little incentive for Chinese authorities to sign an intergovernmental agreement (IGA) to enable China’s financial institutions to comply with Fatca, as any benefits to it from an exchange of information with US tax authorities are likely to be...
Susanne Weismüller, legal adviser at the Association of the Luxembourg Fund Industry (Alfi) has looked into what discrepancies may exist between Fatca regulations and the Intergovernmental Agreements required to make the US legislation reality.
Official publication of final Fatca rules today has been seen as the starting gun for software and IT services companies to roll out solutions that the industry will require in order to meet reporting and other obligations under the legislation.
Martin Dobbins, senior vice president & managing director at State Street in Luxembourg says that proliferation of different Intergovernmental Agreement models is one of the key challenges facing those seeking to implement Fatca requirements.
The US Internal Revenue Service has published its final reporting regulations for foreign financial institutions (FFIs) that runs to 544 pages.
Financial information provider Markit and Compliance Technologies International (CTI) have launched the FATCA Service Bureau, a new service designed to help financial institutions to comply with the Foreign Account Tax Compliance Act.
Dan Waters, managing director of london based trade organisation ICI Global, has included MiFID reforms, the Dodd-Frank Act and Fatca among the regulatory highlights to watch out for in 2013.
The area of Human Resources should not be forgotten amid the myriad responses to regulations in the pipeline - such as AIFMD, Solvency II, Basel III, MiFID II, Fatca, and Ucits V - according to governance, risk and compliance software and services providers...