Financial Regulatory Forum

Foreign Account Tax Compliance Act threatens investment in the U.S.

By Guest Contributor
January 26, 2012
US dollar note and other currenciesBy Christopher Elias (The views expressed are the author’s own)

LONDON/NEW YORK, (Business Law Currents) – A fiscal tourniquet will put a squeeze on tax evasion – the Foreign Account Tax Compliance Act (FATCA) is threatening to clog the arteries of the world’s financial system with U.S. withholding taxes and burdensome obligations on non-U.S. firms.

FATCA tax law has bigger impact on foreign than U.S. firms

By Guest Contributor
December 9, 2011

US dollar note and other currenciesBy Nick Paraskeva

NEW YORK, (Thomson Reuters Accelus) - The soon-to-be-implemented U.S. Foreign Account Tax Compliance Act, or FATCA, will have a bigger impact on foreign financial institutions than on U.S. ones, financial industry participants were told at a panel discussion on the law, which is placing new duties on compliance officers.