The US Internal Revenue Service (IRS) has published proposed regulations for the Foreign Account Tax Compliance Act (Fatca), which is intended to combat tax evasion by US citizens with offshore accounts, and which involves significant data management challenges for financial institutions around the world.
While writing the proposed regulations, the Treasury Department and the IRS say they have taken into consideration comments made by industry participants in response to previous guidance notice
Anthony and James look at developments pertaining to the Consolidated Audit Trail and wonder if big-tech companies could challenge traditional asset managers.Subscribe to Weekly Wrap emails
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