U.S. Citizens in Canada InfoShop

2012 Oct 26 – Lee

 
Justin Lee
FATCA delay simply “smoke and mirrors”
Risk.net (26 Oct 2012)

http://www.risk.net/asia-risk/news/2220117/fatca-delay-simply-smoke-and-mirrors

One representative from a major Hong Kong accounting firm notes that recently announced start date delays leave “the timetable for imposing penalties for non-compliance … relatively unchanged.” Another representative from another firm sees the US as only shifting gears: “Charles Kinsley, tax principal at KPMG in Hong Kong, views the delay as a result of the IRS looking to frame agreements at country level, rather than with FFIs.”
 

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Written by usxcanada

26 October 2012 at 7:00 am

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