FATCA Daily

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Business

Fatca seen as threat for some Hong Kong banks, opportunity for others

Shared by
Derren Joseph

scmp.com - Some Hong Kong financial institutions are refusing new business from US taxpayers due to the difficulties in complying with the Foreign Account Tax Compliance Act (Fatca), while others see it as an...

Technology

FATCA deadline looming

Shared by
Finders(HeirHunters)

blog.step.org - The Financial Times (FT) ran a story on Saturday 18 October about confusion over the Foreign Account tax Compliance Act (FATCA) deadline for trusts. It’s certainly true that the US has provided no ...

Business

Important Personal Security Planning for US Citiziens, US Green Card Holders, and their Families Located in Sensitive Regions, Regarding #FATCA and IGA’s

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BancdelAsteroideB612

bancdelasteroideb612.wordpress.com - This system will be fully functioning by spring of 2015. US persons should be fully informed of this procedure by that time. Follows is information about events which should be considered versus yo...

Technology

The Shocking Real Reason for FATCA, and What Comes Next

Shared by
Marvin Van Horn

internationalman.com - If you’ve never heard of the obscure and seemingly boring Foreign Account Tax Compliance Act (FATCA), I don’t blame you. Few people have, and even fewer fully grasp what it really means or the terr...

Business

America's Tax-Free Zone - Free online video

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Marvin Van Horn

internationalman.com - In this exclusive, free video, you’ll learn from top financial experts Doug Casey, Nicholas Prouty, Peter Schiff, and serious investors like hedge fund manager John Paulson about the current US tax...

Business

FATCA ‘Tormenting’ Taxpayers, Olson Says ← Tax samurai

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Tax Samurai, EA, CPA

taxsamurai.com - By the time lawmakers and taxpayers have figured out whether the Foreign Account Tax Compliance Act was worth the trouble, it might be too late to undo any damage, National Taxpayer Advocate Nina O...

Technology

FATCA Seen as Threat for Some Hong Kong Banks

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International Man

internationalman.com - Some Hong Kong financial institutions are refusing new business from US taxpayers due to the difficulties in complying with the Foreign Account Tax Compliance Act (Fatca), while others see it as an...

Business

Fatca seen as threat for some Hong Kong banks, opportunity for others

Shared by
Aaron (KYC Israel)

kycisrael.com - However, Rademacher said there were other banks in Hong Kong that viewed this as a market opportunity. “[They] say to these US taxpayers, we have compliance in place and we want your business. It’s...

Environment

What's FATCA? The IRS peeking into Canadians' bank accounts - Macleans.ca

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Not Given

macleans.ca - I would like to thank MPs Hsu and Brison for helping to make public this very important issue for all Canadians. FATCA will indeed cause problems for any Canadians who are arbitrarily considered to...

Technology

FATCA e-alert issue 2014-33 | KPMG

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KPMG Luxembourg

kpmg.com - The temporary coordinating regulations amended the standards of knowledge regarding the circumstances that a withholding agent has reason to know that a payee’s claim of foreign status is unreliabl...

Business

Singapore Data Seminar

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AIFMD

prdcommunity.com - Thomson Reuters and Pricing Partners in association with our ASIAN clients are delighted to announce our prestigious Singapore market seminar and networking reception. This event is exclusively for...

Business

Tax-dodging snowbirds could lose their healthcare - BNN News

Shared by
Robin MacNab

bnn.ca - Are you an American resident? It’s a question that Canadian “snowbirds” will have to ask themselves before celebrating Canada Day next week, when the U.S. Foreign Tax Compliance Act ­­– or FATCA – ...

Technology

Understanding the New FATCA Laws for Americans

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Cat Gaa

comoconsultingspain.com - Posted By Como Consulting Spain on Sep 18, 2014 | 2 comments Of all of the ups and downs that go along with being an expat in Spain, money and finance can be one of the most frustrating. But what h...

Business

Passive Foreign Investment Companies (PFIC) and Canadian mutual funds ← Tax samurai

Shared by
Marvin Van Horn

taxsamurai.com - Why are PFIC rules important for holders of Canadian mutual fund? Many American citizens living or working in Canada have invested in Canadian mutual funds – likewise, many Canadians who subsequent...

Technology

Canada Challenges FATCA

Shared by
Pearse Trust

pearse-trust.ie - In what appears to be the first challenge to the US Foreign Account Tax Compliance Act (“FATCA”), lawyers for Gwen Deegan of Toronto and Virginia Hillis of Windsor, Ontario say that FATCA exposes t...

Technology

Financial Pages in Spain: FATCA – An American nightmare?

Shared by
David Goodall

expatsfrombritain.blogspot.com - Thursday, 17 July 2014 FATCA – An American nightmare? Not a typical post from Financial Pages in Spain but it’s for English-speaking expats and there are lots of US citizens in Spain, as well as th...

Business

UKI Connected Banking – Accenture

Shared by
Gareth Wilson

accenture.com - Welcome to Accenture’s UKI Banking microsite which hosts our Connected Banking thought leadership series. Why connected Banking? Banks must now connect in new, more responsive and more seamless way...

Technology

Subversive Sonnets: FATCA, the War of 2014 | U.S. Persons Abroad – Members of a Unique Tax, Form and Penalty Club

Shared by
U.S. Citizen Abroad

fbariswrong.wordpress.com - Subversive Sonnets: FATCA, the War of 2014 By Suki Mills, Canada I Nativity’s place generates much woe Geography, too, can cause its own curse Nationality, their offspring, can sow Seeds of duality...

Business

Planning Lead job

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p2p BusinessFinance

p2people.co.uk - Planning Lead (Compliance) My client is a Tier 1 Global Bank; they are involved in multiple global programme of work, culminating in a portfolio that is complex and extensive in its remit & reach. ...

Technology

The Isaac Brock Society | What will — and what should — Canadians do when the IRS comes calling?

Shared by
Citizenship Lawyer

isaacbrocksociety.ca - This week I had a chat with a kind donor to our Canadian FATCA IGA lawsuit. She is a Canadian citizen who has lived in our country for more than four decades. I asked her (as I now ask many) to pre...

Technology

Besides FATCA, how would they find me? ← Tax samurai

Shared by
Tax Samurai, EA, CPA

taxsamurai.com - The way it is supposed to work is that you are mandated to provide your US Social Security Number (SSN) when you apply for a passport. The Department of State then forwards your address and other i...

Technology

Understanding FATCA Designations and Form W-8BEN-E Compliance

Shared by
Cari Weston

cpa2biz.com - This event will focus on Form W-8BEN-E and review various Foreign Account Tax Compliance Act (FATCA) classifications. During this webcast, you will learn which companies qualify for the public comp...

Business

IFC Review - Fatca seen as threat for some Hong Kong banks, opportunity for others

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IFC Review

ifcreview.com - Subscribe to a three month free trial To subscribe to the three month free trial, giving you unlimited access to the website and archive, enter your details below. If you also wish to recieve the E...

World

The Isaac Brock Society | What will — and what should — Canadians do when the IRS comes calling?

Shared by
Citizenship Lawyer

isaacbrocksociety.ca - No good will come from this business of lying or not lying for whatever reasons. Ultimately the truth is your ally. Here are several scenarios and comments. If a person answers NO to the question t...

Business

Ex Neue Zürcher Banker heading to testify in Weil Case! by Y Looije | PointofU | Showcases

Shared by
Sandro Cassar

regulatoryandcompliance.pointofu.co.uk - According to Swissinfo, a former top executive at Neue Zürcher Bank (NZB) has turned himself over to the United States justice authorities and may testify in the trial of ex-UBS banker Raoul Weil n...

Business

FATCA Tracker – October 01, 2014 - iExpats

Shared by
Derren Joseph

iexpats.com - Nearly 105,000 financial institutions are listed on the US Internal Revenue Service (IRS) database of Foreign Account Tax Compliance Act (FATCA) organisations complying with the tax reporting rules...

Technology

10 Facts About FATCA, America's Manifest Destiny Law Changing Banking Worldwide - Forbes

Shared by
michael grande

forbes.com - Never heard of FATCA? You will. FATCA—the Foreign Account Tax Compliance Act—is America’s global tax law. It was quietly enacted in 2010, and after a four-year ramp up, it’s finally in effect. What...

Technology

Stanton House: Project Manager (FATCA, KYC, CASS, MIFID Experience) - Jobs - NewsLocker

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JobsUK

newslocker.com - £24000 - £28000 per annum + Benefits + Great Agency Culture: Ultimate Asset: Would you like to work in one of the best media agencies in the country on one of their biggest clients? This role with ...

Technology

Swiss consider automatic exchange for FATCA Agreement by Y. Looije | PointofU | Showcases

Shared by
Sandro Cassar

regulatoryandcompliance.pointofu.co.uk - Click here to read the full article on The Tax Times by Marini & Associates. About the author: Yvonne Looije MBA, is an international Interim Executive with extensive experience in program & projec...

Art & Entertainment

California Aims to Lure Movie Industry Back - WSJ - WSJ

Shared by
Marvin Van Horn

online.wsj.com - LOS ANGELES—California is hoping to conjure some real-life jobs in the smoke-and-mirrors world of visual effects for movies and television shows—part of the state’s latest attempt to win back its m...

Science

Finextra Community Home The only way is excellence : IT and Operations together

Shared by
AEOI & FATCA

finextra.com - Part 1: “You can’t manage what you can’t measure” – Designing IT for Operational Excellence The old management adage of “You can’t manage what you can’t measure” certainly strikes a chord with thos...

World

U.S. Humanitarian Aid Going to … ISIS! - The Daily Beast

Shared by
Marvin Van Horn

thedailybeast.com - GAZIANTEP, Turkey — While U.S. warplanes strike at the militants of the so-called Islamic State in both Syria and Iraq, truckloads of U.S. and Western aid has been flowing into territory controlled...

Business

FATCA tormenting taxpayers | PointofU | Showcases

Shared by
Sandro Cassar

regulatoryandcompliance.pointofu.co.uk - By the time lawmakers and taxpayers have figured out whether the Foreign Account Tax Compliance Act was worth the trouble, it might be too late to undo any damage, according to National Taxpayer Ad...

Business

Freakonomics » How Can Tiny Norway Afford to Buy So Many Teslas? A New Freakonomics Radio Podcast

Shared by
Marvin Van Horn

freakonomics.com - Until recently, tiny Norway (population 5 million) has been the second largest market for Teslas (after the U.S.). Earlier this year, Tesla’s Model S became the best-selling car in the country ever...

Technology

Want to get rid of U.S. citizenship? Fee just quadrupled – to $2,350 - National

Shared by
Marvin Van Horn

globalnews.ca - Renouncing your U.S. citizenship will set you back a cool $2,350(US) starting Sept. 6, when the fee will more than quadruple – up from $450. The State Department, which announced the change this we...

Technology

Former IRS Head unsure if FATCA’s benefits outweigh costs | PointofU | Showcases

Shared by
Sandro Cassar

regulatoryandcompliance.pointofu.co.uk - Former acting IRS Commissioner Steven Miller on October 6 said that while he hopes the Foreign Account Tax Compliance Act leads to less offshore tax evasion, he’s not sure if the benefits of the la...

Business

IRS Blocks Inversions, So AbbVie Pays $1.64 Billion Kill Fee To Shire...And Deducts It - Forbes

Shared by
Marvin Van Horn

forbes.com - President Obama’s anti-inversion guidance has already cratered at least one large transaction. President Obama had asked Congress to act, but when it didn’t, he tasked his Treasury Secretary with c...

Business

FATCA: IRSを装った詐欺に対する注意喚起|FATCA/QI/OECDニュース|新日本有限責任監査法人

Shared by
会計士ブログ

shinnihon.or.jp - 2014年9月24日、米国内国歳入庁(IRS)は、FATCAを遵守する金融機関に対して注意喚起を発信しました。 当該注意喚起では、IRSを装い口座保有者の身分や口座情報を不正に取得しようとする詐欺行為の報告を多数の国の金融機関から受けている事実が示され、これに対し、IRSは、金融機関が機密情報を他者に提供する場合は、常に慎重に対応すべきであるとしています。 IRSは、上記詐欺の疑いがある場合...

Technology

FATCA focus on China | PointofU | Showcases

Shared by
Sandro Cassar

regulatoryandcompliance.pointofu.co.uk - As of June 30, 2014 China has signed Model 1 IGA (Intergovernmental Agreement) in cooperation with FATCA (Foreign Account Tax Compliance Act). While FATCA is a U.S. law, individuals and institution...

Environment

Obama Administration Cuts Expensive Deal With Brazil Over Cotton Subsidies - Forbes

Shared by
Marvin Van Horn

forbes.com - Ms. Hanson is a national issue campaign manager for Americans for Prosperity. Two weeks ago the Obama administration cut a deal with Brazil to settle a decade-long dispute over cotton subsidies. Ye...

World

Sweden in 3rd day of suspected sub search

Shared by
Marvin Van Horn

apnewsarchive.com - HELSINKI (AP) — A Swedish military search for evidence of suspected undersea activity in its waters has entered its third day amid reports of a suspected Russian intrusion. The military has decline...

Technology

IRS Loosens Deadline for Banks to Document Foreign Status Under FATCA

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AutoRek

bna.com - To view additional stories from Daily Tax Report register for a free trial now

World

Australia's Parliament House lifts short-lived veil ban - Telegraph

Shared by
Marvin Van Horn

telegraph.co.uk - "Procedures are still in place to ensure that DPS security manage these procedures in a sensitive and appropriate manner," the statement said without elaborating. The ban on face veils in the publi...

World

Executions Could Be Iraq's Real Challenge to Unity - The Atlantic

Shared by
Marvin Van Horn

theatlantic.com - On Saturday, Iraq formed a new unity government: Parliament approved Mohammed Salem al-Ghabban, a Shia, for the role of interior minister, and Khaled al-Obeidi, a Sunni, as defense minister. But on...

Technology

US delegation calls for repeal of FATCA - Offshore News Flash

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Offshore News Flash

offshorenewsflash.com - (CS) As part of a European tour organised by Republicans Overseas, US Senator Mike Lee on Tuesday visited Luxembourg to rally support for the repeal of the Foreign Account Tax Compliance Act, more ...

Business

The Daily Bell - Impact of FATCA – and the Case for Physical and Regional Diversification

Shared by
Marvin Van Horn

thedailybell.com - Certainly, it is unfortunate that FATCA is not a continued subject of discussion by the mainstream Western media given the impact that it will likely have on banks around the world as well as US ex...

Technology

The Franco-American Flophouse: Lee and Bopp: A Chance to Turn the Tide

Shared by
Marvin Van Horn

thefranco-americanflophouse.blogspot.com - "There is a tide in the affairs of men. Which, taken at the flood, leads on to fortune; Omitted, all the voyage of their life Is bound in shallows and in miseries. On such a full sea are we now afl...

Business

Increased FATCA Measures and US Expats - Sydney Moving Guide

Shared by
Marvin Van Horn

sydneymovingguide.com - The Internal Revenue Service continues to set unforeseen precedents through FATCA (Foreign Accounts Tax Compliance Act) regulations as more aggressive measures are being designed to track down inte...

Technology

#FATCA Global Implementation Costs Revealed | USA's IRS #FBAR / #FATCA: The Worst Laws the US has Never Known

Shared by
Sharon March

samuelclemmons.wordpress.com - #FATCA: A Taxing Law Made by a Whole Bunch of Zeroes. A new US tax law raises only $9,000,000,000 for the USA.  However the world pays $200,000,000,000 to implement that tax law. That means that 9 ...

World

The myth of Russian humiliation - The Washington Post

Shared by
Marvin Van Horn

washingtonpost.com - Looking back over the past quarter-century, it isn’t easy to name a Western policy that can truly be described as a success. The impact of Western development aid is debatable. Western intervention...

Micah Willbrand

Director of AML/Compliance at LexisNexis. Reviewing how businesses are adapting to ever changing customer relationships. Comments here are mine and mine alone!