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IRS releases FATCA fact sheet – PDF

The US Internal Revenue Service yesterday released a fact sheet on the last substantial package of regulations necessary for the implementation of the Foreign Account Tax Compliance Act. Download or view the fact sheet here. 

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Date:
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US Internal Revenue Service
Friday, February 21, 2014
Friday, February 21, 2014

US Internal Revenue ServiceThe US Internal Revenue Service (IRS) yesterday released a fact sheet on the last substantial package of regulations necessary for the implementation of the Foreign Account Tax Compliance Act (FATCA).

FATCA was enacted in 2010 by Congress to target non-compliance by US taxpayers using foreign accounts. FATCA requires foreign financial institutions (FFIs) to report to the IRS information about financial accounts held by US taxpayers, or by foreign entities in which US taxpayers hold a substantial ownership interest.

Download or view the IRS FATCA fact sheet here.

The Bahamas is realizing the trickle down benefits of its growing tourism industry, according to Minister of Tourism Obie Wilchcombe, who made the comment during his address at the Small Island Developing States conference in Nassau earlier this week.

This chart illustrates the overall trend of the increasingly important Chinese stock market as measured by the Shanghai Composite Index.

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