Tax Update - FATCA

Tax Update - FATCA

Enacted in 2010, the purpose of the Foreign Account Tax Compliance Act (FATCA) is to prevent tax evasion by U.S. taxpayers using non-U.S. accounts. To accomplish this, FATCA imposes a withholding tax on non-U.S. entities unless U.S. account holders are disclosed. To avoid this withholding tax,...

  • Tags: