Fatca reciprocity splits industry opinion
Reporting requirements such as those under Fatca reciprocity make waves and divide opinion in the industry
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
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