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  • Service: Tax, International Executive Services, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 7/10/2013

Switzerland - FATCA guide for Swiss banks 

July 10: The final rules under FATCA were released in January 2013, and affect the business activities and business models of Swiss financial institutions.

Foreign financial institutions (FFIs) now need to prepare solutions to meet the FATCA obligations—which will directly influence the costs of income structures of FFIs.


A FATCA guide prepared by the KPMG member firm in Switzerland provides an overview of the relevant points affecting the Swiss financial services industry, and provides action steps for FFIs to become FATCA-compliant in time.


Additional information is available on the KPMG website of the Swiss FATCA Compliance Center.




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The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


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For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

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