India and United States signs Inter Governmental Agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA) to promote transparency between the two nations on tax matters.

India and United States signs Inter Governmental Agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA) to promote transparency between the two nations on tax matters. https://www.taxtmi.com/news?id=14690 An Inter Governmental Agreement (IGA) between India and the United States implements the Foreign Account Tax Compliance Act (FATCA) by requiring Indian financial institutions to identify and report U.S. account holders to the Indian government for transmission to the U.S. tax authority, with reciprocal reporting on Indian account holders in the United States; the mechanism complements U.S. withholding on non cooperative foreign financial institutions and aims to enable automatic exchange of offshore account information. en-us Thu, 09 Jul 2015 18:06:53 +0530 Thu, 09 Jul 2015 18:17:00 +0530 TaxTMI RSS Generator India and United States signs Inter Governmental Agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA) to promote transparency between the two nations on tax matters. https://www.taxtmi.com/news?id=14690 An Inter Governmental Agreement (IGA) between India and the United States implements the Foreign Account Tax Compliance Act (FATCA) by requiring Indian financial institutions to identify and report U.S. account holders to the Indian government for transmission to the U.S. tax authority, with reciprocal reporting on Indian account holders in the United States; the mechanism complements U.S. withholding on non cooperative foreign financial institutions and aims to enable automatic exchange of offshore account information. News - Thu, 09 Jul 2015 18:06:53 +0530 https://www.taxtmi.com/news?id=14690