Transcription of FATCA compliance - EY
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FATCA compliance - EY
FATCA complianceA challenge for Luxembourg financial institutions By enacting FATCA , the US intends to initiate a worldwide exchange of information on US persons with the objective of preventing the use of non-US entities by US individuals to evade US taxes. FATCA rules, which become applicable in 2013, will impact the financial sector worldwide. For Luxembourg financial institutions, FATCA represents a major challenge, in terms of strategy as well as operational processes and WintgensTo fight against the avoidance of United States tax by US persons holding securities with non-US financial institutions, the Foreign Account Tax compliance Act ( FATCA ) provisions were enacted on 18 March 2010 as part of the Hiring Incentives to Restore Employment (HIRE) Act of 2010.
FATCA compliance A challenge for Luxembourg financial institutions By enacting FATCA, the US intends to initiate a worldwide exchange of information on US persons with the objective of preventing the use of non-US entities
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