http://ift.tt/eA8V8J
FATCA is an acronym of US term Foreign Account Tax Compliance Act introduced in 2009 but became law as a part of Hiring Incentive to Restore Employment Act, 2010, also known as HIRE. The main objective is to require US person holding financial assets outside US to pay tax. The Act requires foreign financial institutions (FFIs) to provide information about their US customers to IRS and in case of non US entities about their US owners.
June 11, 2017 at 08:09AM
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