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Intergovernmental Agreements

Eversheds Sutherland (US) LLP

Swiss sign Model 1 IGA with United States and resolve transition issues

On June 27, 2024, Switzerland and the United States executed the Agreement between Switzerland and the United States of America to Improve International Tax Compliance and to Implement FATCA (New IGA), which will take effect...more

Braumiller Law Group, PLLC

Braumiller-Law-Group - June 2024 Newletter

Recently, President Biden signed a foreign military support bill (H.R. 815) into law, which also encompassed the 21st Century Peace Through Strength Act (the Act), a legislative proposal introduced in the House containing...more

Braumiller Law Group, PLLC

Hot Topics in International Trade - June 2024 - BRICS A Focus on De-Dollarization and Global Expansion

It was about two years ago I recall writing an article on the QUAD, whose members are the U.S., India, Australia, Japan. It was truly a head scratcher to me as to just how India, Modi specifically, was able to navigate...more

A&O Shearman

CRD VI – What EU branches of third country banks need to know

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The EU is harmonising the rules on the prudential supervision of EU branches of non-EU banks under CRD VI. The new EU-wide third country branch regime will introduce minimum requirements including capital and liquidity...more

BCLP

Key takeaways from the United States - Australia Climate, Critical Minerals and Clean Energy Compact

BCLP on

The United States - Australia Climate, Critical Minerals and Clean Energy Transformation Compact (the “Compact”) is a landmark formal statement of strategic intent to establish climate, clean energy and a shared energy...more

A&O Shearman

The OECD breaks new ground with historic declaration on government access to private sector data

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The OECD breaks new ground with historic declaration on government access to private sector data: Why is the declaration important and how can it help enable data free flow with trust?...more

Foodman CPAs & Advisors

Las FFI Modelo 1 Obtienen Alivio Temporario De Informes FATCA

El 12/30/22, el IRS emitió el Aviso 2023-11 con el propósito de proporcionar alivio de informes FATCA a las FFI Modelo 1 que no han podido obtener los TINs (“Tax ID Numbers”) de los EE. UU. para sus cuentas preexistentes que...more

Foodman CPAs & Advisors

Model 1 FFIs Get FATCA Temporary Reporting Relief

On 12/30/22, the IRS issued Notice 2023-11 with the purpose of providing FATCA reporting relief to Model 1 FFIs who have been unable to obtain US TINs for their pre-existing accounts that are US reportable accounts. In turn,...more

Holland & Knight LLP

¿Cuáles fiscos de América Latina reciben automáticamente información de USA y cómo funciona?

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El intercambio automático y masivo entre el fisco de Estados Unidos y otros países empezó con la ley de cumplimiento fiscal de cuentas extranjeras (Foreign Account Tax Compliance Act o FATCA). FATCA es parte de una larga...more

Wiley Rein LLP

The Door Closes on Section 1782 Discovery: U.S. Supreme Court Interprets Controversial Law with Decisive Consequences for...

Wiley Rein LLP on

The role of U.S. courts in international arbitration has fundamentally shifted. The Supreme Court issued a unanimous decision in ZF Automotive US v. Luxshare holding that 28 U.S.C. § 1782 does not apply to international...more

Benesch

U.S. and E.U. Reach New Trans-Atlantic Data Flow Agreement To Replace Privacy Shield

Benesch on

While the announcement is short on details, once in place, U.S.-based. entities will be able to use the new agreement to comply with the GDPR’s cross-border data transfer requirements. On March 25, the U.S. and E.U....more

McDermott Will & Emery

Weekly IRS Roundup September 7 – September 11, 2020

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 7, 2020 – September 11, 2020... September 4, 2020: The IRS published Competent...more

Eversheds Sutherland (US) LLP

The season of giving – proposed regulations ease FATCA reporting burdens

On December 13, 2018, proposed regulations (Proposed Regulations) were issued that reduce certain compliance obligations under Sections 1471-1474 (the Foreign Account Tax Compliance Act (FATCA)) of the Internal Revenue Code...more

Proskauer - Tax Talks

FATCA: Significant Relief in New Proposed Regulations

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On December 13, 2018, the Internal Revenue Service (the “IRS”) and the U.S. Department of the Treasury (the “Treasury”) issued proposed regulations (the “Proposed Regulations”) addressing various aspects of the withholding...more

Akin Gump Strauss Hauer & Feld LLP

U.S. Withholding Tax and Reporting Action Items for Investment Funds and Asset Managers (Fall 2018)

• Foreign Investor Forms W-8: An update of Forms W-8 on file for non-U.S. investors is generally recommended by December 31, 2018 to ensure that a date of birth (DOB) and non-U.S. taxpayer identification number (Foreign TIN)...more

Fisher Phillips

Federal Court Blocks Portions of California’s New Workplace Immigration Law

Fisher Phillips on

Immigration has, and continues to be, a major flashpoint between California and the Trump administration. In 2017, the California legislature passed significant legislation (AB 450) impacting how California employers deal...more

Allen Matkins

Court Holds International Cancer Agency Is Not A Private Corporation

Allen Matkins on

More than a half century ago, the World Health Assembly established the International Agency for Research on Cancer as the specialized cancer agency of the World Health Organization. Although headquartered in Lyon, France,...more

Foley Hoag LLP - Global Business and Human...

A Business and Human Rights Treaty: Updates from the Third Session of the Intergovernmental Working Group

The Open-Ended Intergovernmental Working Group that is considering an international treaty on business and human rights held its third session from October 23-27 in Geneva. ...more

Akerman LLP - Health Law Rx

Uncertainty Surrounds Low Income Pool (LIP) Funding

The Centers for Medicare and Medicaid Services (CMS), in an August 3, 2017 letter to Florida’s Medicaid Director, approved a five-year extension of the State’s 1115 demonstration project, the Managed Medical Assistance...more

Foster Garvey PC

The British Virgin Islands’ Beneficial Owners Secure System Act of 2017

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The British Virgin Islands (“BVI”) is a small chain of islands in the Caribbean situated between Puerto Rico and St. Maarten. The BVI has been a top sailing destination since the days of Sir Francis Drake. The BVI is a...more

Fox Rothschild LLP

FATCA Update: IRS Publishes FAQs As July 31 FFI Agreement Renewal Deadline Looms

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We have previously written about the Internal Revenue Service’s publication in late 2016 of an updated “FFI Agreement” to be entered into by foreign financial institutions that wish to remain compliant with the Foreign...more

Foodman CPAs & Advisors

Traps for the Unwary: Are Financial Institution receiving adequate FATCA consulting and training?

FATCA is Chapter 4 of the Internal Revenue Code (IRC). It conscripts Foreign Financial Institutions (FFIs) to act as reporting and withholding agents for the U.S. Government. To enforce its conscription, it contains a...more

Dickinson Wright

Sen. Barrasso Introduces Carcieri Compromise Bill

Dickinson Wright on

More than six years after the U.S. Supreme Court’s decision in Carcieri v. Salazar, Sen. John Barrasso (R-Wyoming), the chairman of the Senate Committee on Indian Affairs, has introduced the “Interior Improvement Act” to fix...more

Blank Rome LLP

Internal Revenue Service Issues Stern Warning To Non-Compliant Taxpayers With Offshore Holdings

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Just one day after the October 15 deadline for filing personal income tax returns on extension, the Internal Revenue Service issued a strongly-worded warning to non-compliant taxpayers: take action now to fix your problem, or...more

Dechert LLP

Financial Services Quarterly Report - Third Quarter 2015: Developments in the Luxembourg Financial Sector

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The Luxembourg government has brought to Parliament a bill of law transposing UCITS V into Luxembourg’s UCI Law and AIFM Law. Further, the Luxembourg CSSF published a new version of its AIFMD Frequently Asked Questions, among...more

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