Details

Service: Tax, Financial Services
Industry: Financial Services, Fund Management, PSF
Type: Publication series
Date: 2/18/2011

Contact

Georges Bock

Head of Tax

Tel. +352 22 51 51 5522

georges.bock@kpmg.lu

Gérard Laures

Partner

Tel. +352 22 51 51 5549

gerard.laures@kpmg.lu

Claude Poncelet

Partner

Tel. +352 22 51 51 5567

claude.poncelet@kpmg.lu

FATCA - Implications for Funds

The U.S. government intends to combat tax evasion by U.S. persons more intensively. The Foreign Account Tax Compliance Act (FATCA), which was enacted into law on 18 March 2010, will bolster the U.S. government’s arsenal and will make it more difficult for U.S. persons to hide income and assets. For investment funds, this translates into new withholding tax and reporting obligations which have the potential to dramatically change the way funds currently operate.

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FATCA-Funds-new.pdf (2.18 MB)

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