Foreign Account Tax Compliance Act (“FATCA”) for investment managers |
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- March 2011
- 80 KB
Foreign Account Tax Compliance Act (“FATCA”) for investment managers- Area: Financial Services
Background
The FATCA provisions of the HIRE Act are effectively anti-avoidance measures aimed at capturing the appropriate taxation income of US persons on their investments outside the US. The provisions will impose a 30% withholding tax on applicable gross income, capital and other payment derived in the US from 1 January 2013.
Key findings
This bulletin provides a brief overview of FATCA and outlines what investment managers need to be doing now and up until the implementation date to ensure they meet their compliance obligations.
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Foreign Account Tax Compliance Act (“FATCA”) for investment managers (PDF)
