Asia slow to sign up to IGAs for Fatca implementation

With Japan the only country in Asia signed up to an intergovernmental agreement (IGA) to implement the US's Foreign Account Tax Compliance Act (Fatca), the pressure is growing on the US to sign up more countries in the region to its anti-tax evasion legislation.

On July 12, the US Internal Revenue Service (IRS) extended the Fatca implementation timeline for foreign financial institutions (FFIs) to implement new account opening procedures by six months. This means the Fatca provisions will be

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