Are You Fit For Fatca?
When they return from their holidays, data officers at financial institutions around the world can look forward to getting stuck into a new tome of regulations. At the end of December, the US Internal Revenue Service (IRS) is due to publish the draft regulations of the Foreign Account Tax Compliance Act (Fatca), which will have implications for financial firms globally and will provide plenty of information for data officers to pore over in the New Year.
Fatca is intended to combat tax evasion
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