Fluent in English, Spanish & Italian | 888-882-9243

call us toll free: 888-8TAXAID

The Tresury and European Governments Agree to Pursue Framework for Implementing FATCA

The Tresury and European Governments Agree to Pursue Framework for Implementing FATCA

The Treasury Department has reached an agreement with the governments of France, Germany, Italy, Spain, and the United Kingdom for designing a framework to implement the information reporting and withholding provisions by foreign financial institutions under the Foreign Account Tax Compliance Act (FATCA).

According to Treasury's news release, the governments expressed their “mutual intent to pursue a government-to-government framework for implementing FATCA—an important step toward addressing legal impediments to financial institutions' ability to comply with the regulations.”

The news release and joint statement were issued in conjunction with Internal Revenue Service proposed regulations (REG-121647-10) related to information reporting and withholding provisions by foreign financial institutions.

Read more at: Tax Times blog

 
Get Help Now!
CALL FOR TAX RELIEF!
It's fast. It's free. It's confidential.
888 8TAXAID
(888) 882-9243

Comments are closed.