Non-U.S. Financial Institutions and Investment Funds to Function as Tax Intermediaries Under FATCA
Author: James N. Calvin.; Kenneth M. Kess.; Pascal Noel.
Source: Volume 25, Number 06, July/August 2012 , pp.35-39(5)
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Abstract:
FATCA is likely to be the global catalyst to automatic and reciprocal reporting for financial institutions, including non-U.S. financial institutions and investment funds, which will be expected to don the mantle of go-between for global tax authorities in pursuit of tax evaders.Keywords: Foreign Account Tax Compliance Act; offshore assets; global framework; reciprocal reporting; cross-border investment; Intergovernmental Agreements
Affiliations:
1: Deloitte & Touche LLP; 2: Deloitte Tax LLP; 3: Deloitte Tax & Consulting.