Switzerland

Details

  • Service: Financial Services
  • Industry: Insurance, Banking
  • Type: Business and industry issue, Regulatory update
  • Date: 4/8/2011
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Creating Clarity around FATCA – IRS Notice 2011-34 

The IRS appears to have been listening to the concerns of the financial services industry.
Cover Creating Clarity around FATCA – IRS Notice 2011-34
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However, while this sentiment in the Notice may have been welcome, further analysis indicates that the revised draft fails to deliver on a number of key points. Indeed, real concern exists that the unintended consequences may outweigh the relief some of the provisions will provide.