Format:
1 Online-Ressource (XIII, 334 Seiten)
ISBN:
9781137317308
Series Statement:
Global financial markets series
Content:
Introduction PART I: THE QI REGULATIONS 1. Principles of Code Chapter 3 2. QI Contracts 3. Documentation 4. Withholding, Depositing and Refunding Tax 5. Information Reporting 6. Control and Oversight 7. Penalties 8. Issues for NQIs PART II: FATCA 9. Moral Outrage and Righteous Indignation 10. Principles of FATCA 11. Simplifying FATCA 12. Identification and Documentation 13. Reporting 14. FATCA Withholding 15. FATCA Accreditation PART III: Related Global Tax Initiatives 16. OECD 17. European Union
Content:
The US is the world's largest capital market. Its withholding tax system is also the most complex. This book is essential reading for investors and intermediaries trying to comply with US QI and FATCA tax regulations. It guides the reader through these complex regulations with simple and practical insights into how to meet these compliance burdens, The United States of America is the largest securities and capital market in the world attracting inward investment of several trillion dollars a year from over two hundred countries. Receipt of US sourced investment income by non-US investors is subject to strict US withholding tax regulations - Internal Revenue Code (IRC) Chapter 3 which control how income and withheld tax paid to non-US recipients is calculated, withheld and reported. US resident investors themselves are also some of the most active in outbound investment into the world's other major markets.
Content:
The US claims the right to tax the global income of its citizens and so income derived from such outbound investment must be disclosed to the IRS. However, failure by some Americans to disclose their offshore assets has led to some recent high profile cases of tax evasion and the subsequent regulation of non-US financial institutions by the US government in IRC Chapter 4, also known as 'FATCA'. FATCA requires all non-US financial institutions to meet strict due diligence rules to identify and report accounts substantially owned by or effectively controlled by Americans - or suffer serious financial penalties. As with any regulations, the challenge for industry is to efficiently translate regulation into workable operational practices. This book gives practical insights into the day to day challenges that both sets of these regulations present for non-US financial institutions as well as those who provide support services to them.
Additional Edition:
Erscheint auch als Druckausgabe ISBN 978-1-349-34939-5
Language:
English
DOI:
10.1057/9781137317308
URL:
Volltext
(URL des Erstveröffentlichers)
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