Jeffrey S. Freeman Is The Keynote Speaker About FATCA At The American Chamber Of Commerce In Shanghai

The presentation on October 17, 2014 will discuss how FATCA has changed the world and provide perspectives for financial institutions and expatriates Shanghai, China October 14, 2014 - As of June 30, 2014 China has signed Model 1 IGA (Intergovernmental Agreement) in cooperation with FATCA (Foreign Account Tax Compliance Act). While FATCA is a U.S. law, individuals and institutions internationally are subject to more necessary tax compliance. The American Chamber of Commerce in Shanghai will hold a Spotlight Session on October 17th with Jeffrey S. Freeman, Esq. speaking about FATCA and its impact on individuals and institutions around the world. Foreign banking has been under intense scrutiny over the past several years and the recent roll out of the Foreign Account Tax Compliance Act (FATCA) provides a new complexity that account holders and financial institutions are still working to understand. Offshore bank account holders are required to stay in compliance with the IRS regarding existing accounts and assets. Having a foreign bank account or assets that have not been properly disclosed could expose you to large civil and criminal fines and penalties. What is FATCA? FATCA is a United States law that requires financial institutions in cooperating nations to provide [...]