Fatca delay simply “smoke and mirrors”


The US tax authorities' decision to delay the start dates of key parts of the Foreign Account Tax Compliance Act (Fatca) is nothing more than "smoke and mirrors", as the timetable for imposing penalties for non-compliance remains relatively unchanged, says Tim Clough, partner, risk and controls solutions at PricewaterhouseCoopers in Hong Kong.

The Internal Revenue Service (IRS) had originally required foreign financial institutions (FFIs) to sign agreements from January 1, 2013, and to withhold

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: