UK and US sign accord to combat evasion
Posted by mostafa on 17 September, 2012
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This item was filled under Tax
The governments of the UK and US have signed an agreement aimed at improving international tax compliance and implementing the US Foreign Account Tax Compliance Act (FATCA).
The new accord addresses legal barriers to financial institutions complying with FATCA, and ensures withholding tax will not be imposed on income received by UK financial institutions or on payments they make.