FATCA News

Blue-arrow-world-finance-chart-1000x750With the enactment of FATCA, the United States wishes to ensure that all income earned worldwide by US taxpayers on accounts held abroad can be taxed by the United States. FATCA essentially requires foreign financial institutions to register with the US tax authorities (Internal Revenue Service, IRS) and report on identified US accounts or else to deduct and transfer a withholding tax.