Stephen Fiamma and Stefka Kavaldjieva look at the increasingly global reach of FATCA and its impact here
Recent US legislation is beginning to send ripples through the markets with non-US banks and governments mounting a push against the law and capital markets threatening to divest US assets.
The Foreign Account Tax Compliance Act (FATCA) part of the Hiring Incentives to Restore Employment Act of 2010 (the HIRE Act) overhauls the US withholding regime.
The law effectively makes foreign financial institutions (FFIs) information gathering agents of the US Internal Revenue Service (the IRS) by threatening...
