SIX Service Monitors Instruments Subject to Fatca Witholding
Data services provider SIX Financial Information has launched a new service to help firms comply with the US Foreign Account Tax Compliance Act (Fatca) by identifying instruments that are in scope for tax withholding and highlighting those that subsequently come into scope due to a material modification.
As part of the US anti-tax evasion measure, non-US financial firms will be required to withhold tax at 30% on US-sourced payments to non-compliant accounts. To help firms comply with the
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