Examples of Foreign Account Tax Compliance Act in a sentence
General tax considerations Potential investors should be aware that payments in respect of the Notes, Coupons or Receipts may be subject to withholding or deduction for or on account of tax, including (without limitation) pursuant to the Foreign Account Tax Compliance Act (“FATCA”).
Subtitle A of Title V of the HIREAct, entitled “Foreign Account Tax Compliance,” was based on legislative proposals in the Foreign Account Tax Compliance Act (“FATCA”), a bill introduced in both the House and Senate on October 27, 2009, asH.R. 3933 and S.
The Foreign Account Tax Compliance Act (FATCA) is a US tax law aimed at financial institutions and other financial intermediaries to prevent tax evasion by US citizens and US tax residents through use of non-US investments or accounts.
The foreign depository institution must bear an eli- gible rating, be registered under the Foreign Account Tax Compliance Act, and not be located in a country that is subject to sanctions from the office of foreign assets con- trol in the U.S. treasury department or designated a high− risk or noncooperative jurisdiction by the Financial Action Task Force established at the G7 summit in Paris on July 14, 1989.