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Results for: FATCA

FATCA update – PDF

Tuesday, August 16th, 2016 | Filed Under: News & Press

...The IRS has upgraded the FATCA Online Registration System, enabling sponsoring entities to provide additional required details. Added features include being able to add sponsored entities and if applicable, sponsored subsidiary branches. View or download a PDF of the complete report here here.......


FATCA report deadline looms

Tuesday, August 23rd, 2016 | Filed Under: News & Press

...hange” portal for Bahamian financial institutions to submit information on FATCA reportable accounts opened on 19 July 2016 and will close on 26 August 2016 at 5 p.m. EST. Reporting financial institutions must report through the “tax information exchange” portal even if they have no reportable accounts for the reportable year. Data must be prepared in either Excel or CSV format to upload to the portal. Files submitted must be complete, containing......


FATCA Bill passes in HOA

Thursday, July 23rd, 2015 | Filed Under: News & Press

...The Bahamas and the US Foreign Account, Tax and Compliance Agreement Bill has been passed in the House of Assembly.......


´┐╝BACO to host FATCA seminar

Thursday, March 27th, 2014 | Filed Under: News & Press

...The Bahamas Association of Compliance Officers is to host a seminar on the imminent US Foreign Account Tax Compliance Act. The event will be held at the British Colonial Hilton in Nassau April 3. Download/view a brochure and registration form pdf here.......


Parliamentarians to debate FATCA Bill – video

Wednesday, July 22nd, 2015 | Filed Under: News & Press

...Politicians are set to debate legislation surrounding the US Foreign Account Tax Compliance Act in the House of Assembly this week.......


FS Ministry invites bids for FATCA reporting system – PDF

Friday, September 27th, 2013 | Filed Under: News & Press

...Download or view the government notice here.......


Minister Pinder applauds BFSB at AGM

Friday, September 27th, 2013 | Filed Under: News & Press

...ng a brief update on the status of the Foreign Account Tax Compliance Act (FATCA) implementation, Minister Pinder told BFSB members that, as they already knew, The Bahamas government has chosen a Model 1 Intergovernmental Agreement (IGA) as the framework on how FATCA will be administered in The Bahamas. He said the government has reviewed the IGA and has some suggested drafting changes. “We have been coordinating with countries in the region with......


US tax initiative to bring widespread change in accounting protocol

Wednesday, January 26th, 2011 | Filed Under: News & Press

...lop a plan for managing and remediating any potential risk associated with FATCA non-compliance. Speaking at a round-table discussion held in Nassau last week, Deloitte (Bahamas) partner Lawrence Lewis emphasized the far-reaching ramifications of the initiative. “The impact of this is much greater than just a tax issue. It really becomes an organizational issue, a strategic issue and an issue of operational performance. FATCA is wide sweeping chan......


Bahamas gears up for FATCA – video

Monday, April 20th, 2015 | Filed Under: News & Press

...Guidelines regarding the US Foreign Accounts Tax Compliance Act are nearing completion, according to government officials.......


Charting growth in financial services

Monday, February 4th, 2013 | Filed Under: News & Press

...mpetitive edge in this new regulatory environment, the Minister stressed. “FATCA’s regulations contain various options that are being carefully studied by my Ministry. I am mindful, that my Ministry ought not to consider the implications of FATCA in a public sector vacuum,” said Pinder. “Therefore, to ensure that private sector participants are included, I have installed a Minister’s Advisory Group to ensure that your views are considered.” The gr......


Cantor & Webb to partner with Markit

Wednesday, October 14th, 2015 | Filed Under: News & Press

...| CTI Tax Solutions, Cantor & Webb will offer IRS audit support, 1441 and FATCA health checks, FFI registrations, legal entity reviews, documentation, withholding and reporting services including Form W-8 series fulfillment, Form 1042-S reporting, and Form 8966 reporting, and technology solutions to assist with 1441/QI, FATCA and CRS readiness/compliance. Markit | CTI Tax Solutions attorneys, certified public accountants, and subject matter exper......


Pinder highlights increased compliance

Thursday, October 3rd, 2013 | Filed Under: News & Press

...ence and capacity in tax compliance to be able to navigate in the world of FATCA.” “The government of The Bahamas is assisting in minimizing the affect by what we think is the best way, through a Model 1 Intergovernmental Agreement (IGA).” “This will cause the government, and specifically the Ministry of Finance, to be the competent authority in transmitting information to the Internal Revenue Service (IRS),” Minister Pinder noted. The private sec......


The future of wealth management

Thursday, July 23rd, 2015 | Filed Under: Features

.... The impact of these changes is even larger for offshore private banks as FATCA is levelling the playing field in attracting global investors across many jurisdictions. While there have been several high-profile market exits by global wealth management organizations, there are still opportunities for significant growth for firms that can adapt to change and deliver stronger value propositions. This is an opportunity for firms to re-examine their......


Bahamas races to meet CRS deadline

Monday, January 23rd, 2017 | Filed Under: News & Press

...n-compliance with the Act and the Common Reporting Standard.” Halkitis acknowledged the new global standard models the United States’ Foreign Account Taxpayer Compliance Act (FATCA), which led the way on a global push for cross-border co-operation in the collection of taxes. For the first time, FATCA placed the burden on foreign financial institutions (FFI) and international tax authorities to report US financial asset holders, beginning in 2014.......


Financial services movers & shakers

Wednesday, January 21st, 2015 | Filed Under: Features

...he predicts that the impact of the US Foreign Accounts Tax Compliance Act (FATCA), which comes into force this year, will provide opportunities for skilled lawyers, but open the industry up to greater competition. “We are going to see a lot more challenges to trusts as people try to navigate through FATCA, and others navigate into trusts. People are going to be asking ‘what do these changes mean for us?’ “We are going to face competition from area......

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