What charities need to know about the Foreign Account Tax Compliance Act: Eva Abeles and Melora Jezierska explain the implications for the sector in this country of a new piece of tax legislation from the United States
It is fair to say that the Foreign Account Tax Compliance Act has not been on the charity world’s radar because it is, after all, a piece of US tax legislation. However, because Fatca imposes additional reporting and compliance burdens on all banks and financial institutions, it will affect how these entities interact with charities.
What is Fatca?
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