With China agreeing in principle to comply with the US anti-tax evasion law, it looks like mainland fund houses, among others, will have to fall in line, despite many thinking they might be free to choose not to.
Tag : foreign account tax compliance act
The recent Cayman-US tax agreement has sparked a rush of Asian managers seeking to register as Fatca-compliant, says PwC's Angelica Kwan – but they need to be ready first.
Despite initial pushback, China would seem to have little choice but to comply with the US’s far-reaching tax laws come next summer, say industry observers.
The six-month postponement of the US's Foreign Account Tax Compliance Act allows Asian companies more time to negotiate, but they shouldn't be complacent, PwC cautions.
