US espats
November 22, 2012
The US Treasury Department’s latest revisions to its highly controversial Foreign Account Tax Compliance Act (FATCA) are to be cautiously welcomed I think .
From 1st January 2013, FATCA requires all overseas banks, and other foreign financial institutions (FFIs), to report the financial affairs of their American clients directly to the US government - or face a 30 per cent withholding tax on all US transactions.
As the process of becoming ‘FATCA-compliant’ is extremely
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