Thursday, November 5, 2015

FATCA or GATCA which tax law to rule?. A new global tax information law is expected by 2016


The US Foreign Account Tax Compliance Act (FATCA) could be eventually expanded into a more global tax information sharing agreement between countries. This international act is called 'Global Account Tax Compliance Act' (GATCA).

FATCA aims at preventing tax abuse by US persons living abroad and requires foreign financial institutions to identify and provide information on US clients with accounts outside the US.

Local banks have not yet received any official notification about GAT...

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