US Postpones Fatca Deadlines, Citing Need For International Agreements

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The US Treasury and Internal Revenue Service (IRS) have postponed key requirements of the Foreign Account Tax Compliance Act (Fatca) by six months to allow more time for countries around the world to sign up to implementation agreements. They have also delayed the launch of the Fatca registration website.

Requirements that firms perform additional due diligence when onboarding clients and withhold tax at 30% on US-sourced income to non-compliant accounts were due to come into force on January 1

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