FATCA - Foreign Account Tax Compliance Act
What is FATCA?
FATCA is the abbreviation for the Foreign Account Tax Compliance Act. FATCA is a piece of legislation designed to help counter tax evasion in the US. FATCA was introduced by the US Treasury and the US Internal Revenue Service (IRS). FATCA is designed to facilitate tax compliance by preventing a US person from using banks (and other financial organisations) in order to bypass or avoid US taxation.
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If you need help to determine your FATCA status or wish to discuss the impact of FATCA upon your affairs please speak to our specialist FATCA team on 020 7330 0000 or email FATCA@abggroup.co.uk.