Fatca IGAs causing concern in US
The signing of the first reciprocal IGA under Fatca is causing concern among US banks
The US Foreign Account Tax Compliance ACT (Fatca) continues to make waves. With the signing in September of the first of the reciprocal intergovernmental agreements (IGAs) covering compliance with Fatca - between the UK and the US - the industry is starting to ask exactly what these IGAs mean. In the US in particular domestic institutions will now find themselves on the receiving end of Fatca's more onerous provisions. The potential for complications for US institutions trying to comply with
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