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"New era" begins as FATCA is introduced worldwide

"New era" begins as FATCA is introduced worldwide

The controversial US Foreign Account Tax Compliance Act (FATCA) has been introduced around the world today, marking a "new era for tax planning".

As part of the Act's "withholding stage", all foreign financial institutions (FFIs) will now have to disclose all US related information about new and existing clients to the US Internal Revenue Service (IRS).

Please link to International Adviser to read the full article by Daniel Flynn.

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