Fatca reciprocity splits industry opinion

stephenbrecherweisermazars
Stephen Brecher, WeiserMazars

The reciprocity element of the US Foreign Account Tax Compliance Act (Fatca) is causing ripples in the financial industry. In a joint statement, released alongside the draft regulations earlier this year, the US and five other large economies – Germany, Spain, Italy, the UK and France – stated that the US is willing to reciprocate automatically collecting and exchanging information on accounts held in US financial instutions by residents of these five nations. But opinion is split on how

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