Thu, Sep 18, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Deloitte says FATCA draft guidance notes crystallise the breadth of impact

Wednesday, December 19, 2012
Opalesque Industry Update - The UK's HMRC has issued draft guidance notes on the UK FATCA Intergovernmental Agreement together with its response to the FATCA Consultation Document.

Chris Tragheim, tax partner at Deloitte, said: “Financial services companies have been awaiting this draft guidance so that they can progress with their FATCA preparations. “The next six months will be a critical period for organisations to tackle their FATCA obligations if they are to meet the compliance deadlines. In particular, the draft guidance has crystallised the breadth of organisations impacted by FATCA, including banks, brokers, insurers, funds, trust and corporate service providers, lawyers and clearing organisations. However, despite the additional information released today there are still unanswered questions, not least around the registration requirements, that continue to cause uncertainty.

“The draft guidance provides another important step in global information reporting. Governments believe it is an important to share information to combat cross border tax evasion, and more agreements will undoubtedly be signed.”

press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Opalesque Exclusive: Old Hill Partners launches specialty finance fund[more]

    Bailey McCann, Opalesque New York: Asset-backed lending is starting to heat up again after a prolonged credit squeeze. The Financial Times reports that a record £18.9bn was borrowed from asset-based lenders in the three months to the end of June. Much of this lending is driven by advanc