Chinese banks will avoid Fatca, observers warn

China flag

Speculation is growing that banks in China will be either unready or unwilling to comply with the US Foreign Account Tax Compliance Act (Fatca), due to come into force in January 2013.

"Companies in Asia are now beginning to wake up to [Fatca]. They have been slower on the uptake," says Graham Thomson, UK Fatca lead at BDO Financial Services in London. "In terms of China, I think they're looking to have some government talks in the run-up to the year-end position, when the regulations are due to

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 copy this content. Please contact [email protected] to find out more.

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: