Foreign Account Tax Compliance Act (FATCA)

Hong Kong and USA Work Toward FATCA IGA

(Hong Kong, 2014-03-26) On March 25, Hong Kong and the United States signed a Tax Information Exchange Agreement (TIEA), which will provide the necessary basis for Hong Kong to enter into an Intergovernmental Agreement (IGA) to adhere to the United States' Foreign Account Tax Compliance Act (FATCA). Hong Kong's Secretary for Financial Services and the […]

FATCA – UAE on proper path to sign as well

(Dubai, 08/09/2013) According to various publications and press releases of the UAE Central Bank, the bi-lateral signing of Foreign Accounts Tax Compliance Act (FATCA) between the U.S. and UAE can be expected before the end of 2013. The Governor of the UAE Central Bank, H.E. Sultan Bin Nasser Al Suwaidi, stressed already in March 2013 […]

FATCA: Malta And US Conclude FATCA Negotiations

(Monaco, 22/07/2013) Malta and the US have concluded negotiations concerning an Intergovernmental Agreement (IGA) in relation to US FATCA regulations (FATCA). FATCA was enacted in 2010 by the US Congress as part of the Hiring Incentives to Restore Employment (HIRE) Act. FATCA requires non-US financial institutions to report to the US Internal Revenue Service (IRS) […]

FATCA: Deadlines postponed

(Dubai, 29/10/2012) The US government has postponed the start date of incoming tax regime FATCA to give businesses more time to comply with the rules. The Internal Revenue Service (IRS) said institutions will now have until 1 January 2014 to put procedures in place to meet the requirements of the Foreign Account Tax Compliance Act […]

FATCA: Cayman Islands considering signing with US

(Dubai, 26/10/2012) The Cayman Islands government has released an update on whether the territory will negotiate a government-to-government reporting arrangement with the United States to ease the compliance burden on local financial institutions of complying with the requirements of the US's Foreign Account Tax Compliance Act (FATCA). The island's Premier, McKeeva Bush, said: “The government […]

FATCA: Loopholes with Dual Citizenship

(Dubai, 23/10/2012) DUAL CITIZENSHIP issues may lead to a "loophole" in the US Foreign Account Tax Compliance Act (FATCA) because the dual citizenship issue has not been addressed and may be hard to close. FATCA obligates foreign banks and other foreign financial institutions (FFI's) to report the individual account information of US citizens and US […]

Guernsey, Jersey & Isle of Man to strike FATCA deals with US

(Dubai, 11/10/2012) The governments of Guernsey, Jersey and the Isle of Man have simultaneously announced that they are seeking to negotiate partnership agreements with the United States to implement the Foreign Account Tax Compliance Act (FATCA). The intention is that the three British Crown Dependencies will negotiate their own individual agreements which will follow the […]

HOLDINGS | TRUSTEES | LAW | TAX | FACILITATION | CORPORATE

Welcome to the Web of MCI Counselors Law & Tax - have a good day!

Language

New articles

\r\n (Dubai, 20/10/2014) In August 2014 already, the “so much to UAE committed” foreign bank Standard Chartered announced to exit parts of its SME business in the federat...
\r\n (Dubai & Berlin, 30/09/2014) The increasing “European-ization” of all areas will now also make no longer halt before inheritance. At least, once international ba...
\r\n (Dubai, 04/09/2014) This week the World Economic Forum (WEF) published the results of its annual Global Competitiveness Report (GCR) 2014-2015 with impressive rankings for the U...
\r\n (Dubai, 30/08/2014) Since June/July this year, licensees of Dubai’s DMCC start to rub their eyes when it comes to their annual license renewal. Out of the blue, the Free Z...
\r\n (Dubai, 08/08/2014) MCI offers actually several Shelf Companies, aged between 2yrs, 10mths and 6yrs, 1mth - as per August 2014.\r\n\r\n\r\n\r\n \r\n \r\n \r\n DESCRIPTION\r\n \r\n \r\n ...
\r\n (Hong Kong, 2014-07-27) This month, the first revision of Shanghai Free Trade Zone’s (FTZ) Negative List took place.\r\n\r\n\r\n\r\n Shanghai Free Trade Zone (FTZ) was launched in...
\r\n (Dubai, 14/07/2014) The UAE Ministry of Labour (MOL) has announced that it will stop the usage of the old plastic labour cards & paper contracts starting from July 13, 2014....
\r\n (Hong Kong, 25-06-2014) We found a very interesting BBC documentary about China's debt policy and situation from February 2014, critical as well (of course). But watch yours...
\r\n (Dubai, 13/04/2014) With effect 01/05/2014, Emirates NBD massively increases the required Minimum Balances for its Business Banking Clients.\r\n\r\n\r\n\r\n Emirates NBD, one of UAE'...
\r\n (Dubai, 26/03/2014) Finally, Virtual Currency (VC) Tax Rules - including the most popular, Bitcoin - came to the US on March 25! Several insiders predicted that the government w...

Facebook

Tags