FATCA takes effect and brings in era of continuous compliance

Ralph Cunningham

July 01 2014

Governments have bridled at its extra-territorial effect, financial institutions have laboured to comply with its reporting and due diligence requirements, and some US Congressmen threatened to wreck it, but the withholding requirements under the Foreign Account Tax Compliance Act (FATCA) still took effect on July 1, six months later than planned.

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Ralph Cunningham

Ralph Cunningham worked at ITR between 2004 and 2018 and is now a freelance journalist.

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