FATCA registration: Model One FFIs must obtain a GIIN to avoid withholding; indicate 'GIIN applied for' if pending. SEBI directs intermediaries with US reportable accounts under the Model One IGA to register with the IRS and obtain a Global Intermediary Identification Number (GIIN) for FATCA certification; intermediaries that have applied but not yet received a GIIN must inform withholding agents the GIIN is 'applied for,' enabling the withholding agent the prescribed period to obtain and verify the GIIN to avoid withholding.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
FATCA registration: Model One FFIs must obtain a GIIN to avoid withholding; indicate "GIIN applied for" if pending.
SEBI directs intermediaries with US reportable accounts under the Model One IGA to register with the IRS and obtain a Global Intermediary Identification Number (GIIN) for FATCA certification; intermediaries that have applied but not yet received a GIIN must inform withholding agents the GIIN is "applied for," enabling the withholding agent the prescribed period to obtain and verify the GIIN to avoid withholding.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
