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FATCA: Key Impacts and Achieving Compliance

"The US Foreign Account Tax Compliance Act (FATCA) is a key piece of US federal legislation intended to improve tax compliance involving foreign financial assets and offshore accounts. FATCA requires Foreign Financial Institutions (FFIs) to identify any US account or policy holders and disclose their balances, receipts, and withdrawals to the US Internal Revenue Service (IRS) or the local tax authority.

Non-participating FFIs and non-compliant account holders may be subject to a 30 percent withholding tax on certain US source income. It should be noted that, in case of non-participating FFI the 30% withholding tax on certain US source income is extended to ALL account holders within the non-participating institution."

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NETpeas

NETpeas is the leading provider of COREvidence™ the First Marketplace Cloud-based Multi-Engines Vulnerability Management Service. COREvidence™ integrates solutions & services to create a single access. Customers have access to Technology Leaders in Vulnerability Management, Compliance Achievement and IT Monitoring.

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FATCA: Key Impacts and Achieving Compliance