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FATCA and the Funds Industry: Defining the Path
Posted. 23.08.2011
Categories:
Tax, Financial Services, Analysis, Financial, Funding, Investments, Sales, Systems, Economy
Overview
For financial intermediaries worldwide, the US Foreign Account Tax Compliance Act (FATCA) represents a major challenge. Read this report by KPMG.
For financial intermediaries worldwide, the US Foreign Account Tax Compliance Act (FATCA) represents a major challenge. The scope of FATCA is significantly broader than that of the current qualified intermediary (QI) regime, and its requirements cannot be met with the processes and systems that currently prevail within the fund industry. There is also significant time pressure, since the requirements must be implemented by the start of 2013.