The Foreign Act Tax Compliance ACT (FATCA) was enacted to curb tax evasions by US persons. It is US centric legislation whose purpose is to obtain information about foreign investments by US persons and not to collect the FATCA withholding tax. However, because of its unilateral nature, its provisions are likely to conflict with local laws, such as privacy and data protection.Intergovernmental agreements (IGAs) are bilateral agreements between the United States and a foreign jurisdiction that are an alternative means to implement FATCA, avoid local law conflicts and further the objectives of international tax transparency and exchange of information. The United States has proposed two models of IGAs, one of which has two versions. The webinar will discuss:
Our panelists will be governmental representatives (if available), and US and foreign practitioners who are familiar with FATCA and the foreign aspects and implications of FATCA.
Alan Winston Granwell, DLA Piper and Carol Tello, Sutherland, Asbill & Brennan LLP