News & Analysis as of

Foreign Account Tax Compliance Act › Tax Information Exchange Agreement

The Foreign Account Tax Compliance Act is a United States federal statute enacted in 2010 as part of the Hiring Incentives to Restore Employment Act (HIRE Act). FATCA aims to improve compliance of U.S. taxpayers... more +
The Foreign Account Tax Compliance Act is a United States federal statute enacted in 2010 as part of the Hiring Incentives to Restore Employment Act (HIRE Act). FATCA aims to improve compliance of U.S. taxpayers by capturing tax revenue related to foreign assets and off-shore accounts.  less -
Conyers

Unveiling Tax Realities: Debunking Myths about the British Virgin Islands

Conyers on

In this review of taxation and the British Virgin Islands, Conyers Corporate Counsel Nicholas Kuria discusses some of the most commonly misunderstood notions relating to the use of offshore jurisdictions, with a focus on the...more

Walkers

Guernsey Guide: legal, regulatory, transparency and supervisory framework

Walkers on

This briefing explains Guernsey’s adoption of rigorous international tax and regulatory standards, which, in conjunction with its local tax law, make it an ideal location for investment funds and other investment vehicles....more

Foodman CPAs & Advisors

No deje que el IRS llegue a Usted Primero

Foodman CPAs & Advisors on

Los Contribuyentes Estadounidenses con activos e ingresos financieros extranjeros no declarados corren el riesgo de que el Gobierno determine si su conducta fue intencional o no intencional.  ...more

Foodman CPAs & Advisors

Do You know that the US might have a Tax Sharing Information Agreement with your Country?

Foodman CPAs & Advisors on

The US has Tax treaties and Tax Information Exchange Agreements (TIEAs) with certain countries that provide, upon request, for the exchange of U.S. income information regarding their citizens or residents. There are...more

Sheppard Mullin Richter & Hampton LLP

New Tax Information Exchange Agreement Between the United States and Argentina

Sheppard Mullin Richter & Hampton LLP on

The governments of Argentina and the United States signed on December 23rd, 2016, a new tax information exchange agreement (“TIEA”). Jack Lew, U.S. Treasury Secretary, stated that the TIEA will allow for important...more

BakerHostetler

Cayman Islands and U.S. Sign FATCA IGA

BakerHostetler on

On November 29, 2013, the Cayman Islands and the U.S. Signed a FATCA IGA. The Cayman Islands IGA is a Model 1B agreement, meaning that FFIs in the Cayman Islands will be required to report tax information about U.S. account...more

King & Spalding

U.S. Treasury Department Releases Model FATCA Intergovernmental Agreements

King & Spalding on

On July 26, 2012, the U.S. Department of Treasury released its first model intergovernmental agreement (IGA) implementing the information reporting and withholding tax provisions under the Foreign Account Tax Compliance Act...more

Orrick, Herrington & Sutcliffe LLP

Proposed Treasury Regulations Implementing the Foreign Account Tax Compliance Act (“FATCA”)

Orrick, Herrington & Sutcliffe LLP on

On February 8, 2012, the Internal Revenue Service (“IRS”) announced the release of proposed regulations (the “Proposed Regulations”) for the next phase of implementing reporting and withholding provisions of the HIRE Act...more

Eversheds Sutherland (US) LLP

U.S. Response to Unreported Offshore Income and Assets of U.S. Taxpayers

Eversheds Sutherland (US) LLP on

Since the G-20 meeting on April 2, 2009, there has been a worldwide emphasis on the elimination of bank secrecy through the implementation of tax information exchange agreements ("TIEA") with countries or jurisdictions that...more

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