AMERICAN TAX INFORMATION EXCHANGE LAW TO BECOME GLOBAL STANDARD WITH TEETH
November 1st, 2012
BY ALAN OSBORN
It is a testimony to the continuing power of the American marketplace, even in today's multi-polar world, that the USA's controversial Foreign Account Tax Compliance Act (FATCA) has so much influence. Indeed, by key US trade partners adopting many of its provisions themselves, the act is going global and threatening to turn the world of international tax management upside down.
It was approved by the US Congress in 2010 and enters into force on January 1, 2013, and requires that from the beginning of 2014 participating foreign financial ...
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