Australia

Details

  • Service: Tax, Topics, Financial Services Regulation, FATCA
  • Industry: Financial Services, Banking, Investment Management, Insurance, Superannuation, Private Equity, Real Estate & Construction
  • Type: Regulatory update
  • Date: 8/03/2012

FATCA Update

FATCA: Where are we now?
This series provides an update on the status of the Foreign Account Tax Compliance Act (FATCA).

FATCA: Where are we now? Issue 4 - March 2012 

Foreign Account Tax Compliance Act (FATCA) will pose significant, additional business challenges to financial services organisations, especially FFIs and US withholding agents, and affect their business models. It will also impact their non-US customers/clients, investors, and counterparties. For some firms and service providers, however, FATCA might also present new business opportunities.
FATCA: Where are we now? cover
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Key insights

  • FATCA compliance is not optional and will not be 'business as usual'
  • It will also affect US withholding agents and may impact 'top-line' revenue
  • Compliance will increase costs and negatively impact margins
  • Timely and comprehensive planning will be required to properly allocate resources.
 

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