United Kingdom
Facing Up To FATCA
FATCA, the Foreign Account Tax Compliance Act, introduced by the US government and designed to crack down on tax avoidance by wealthy US citizens investing offshore, represents a complex and costly compliance task being forced upon financial services firms globally. It will take effect from January 2013 but preparations for the deadline are complex.
How BDO can help
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Financial Services firms need to take action now by accepting that this is much more than a tax compliance issue. They must conduct a thorough impact assessment into how the FATCA requirements will affect their strategy, customers, products, processes, systems and their people.
BDO can provide comprehensive support for your FATCA preparation and compliance efforts that draws together the expertise of our multi-disciplinary FATCA team comprising specialists in Risk & Regulatory Services, Tax, Forensics and Technology Advisory Services. We can help you to ensure that the strategic, governance, operational, technology, taxation and reporting aspects of the regime are all addressed in a cohesive manner.
Up Coming Events
Contacts
Angela Foyle
Partner
Telephone:
020 7893 2475
Email Angela
Tim Kirk
Partner
Telephone:
020 7893 2254
Email Tim
FATCA Content
IRS Website
The Foreign Account Tax Compliance Act (FATCA), enacted in 2010 as part of the Hiring Incentives to Restore Employment (HIRE) Act, is an important development in U.S. efforts to combat tax evasion by U.S. persons holding investments in offshore accounts.