Asia financial institutions unhappy about scope of Fatca
While the goal of Fatca is to reduce tax evasion by enabling US tax authorities to obtain information regarding income of US persons earned through foreign financial institutions, the wide scope of compliance obligations imposed on financial institutions is unreasonable, say market participants.
Across Asia, financial institutions, through various industry bodies, have submitted comment letters to the US Internal Revenue Service (IRS) to voice their concerns with the regulations and the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Regulation
Risk Management
Thriving in the new resilience normal
While the Covid-19 pandemic may be largely behind us, new challenges emerge as firms renavigate and optimise operations in the ‘new normal’. Today the focus has shifted to making operational resilience scalable and sustainable. In a Risk.net panel…
Receive this by email
Most read on Risk.net
- Calls grow to ease restrictions on term SOFR derivatives
- Geopolitics, volatility and transformation: the top trading and intraday risk management concerns
- Commodities threaten pain for initial margins
- Libor/SOFR basis like ‘free money’ for early movers – GS trader
- Rates correlations break down amid volatility surge