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Presented below is a listing of publications and by-lined articles reflecting Deloitte’s perspective on Foreign Account Tax Compliance Act (FATCA) legislation and implications and the Common Reporting Standard (CRS).
The World is About to Become More Financially Transparent, Whether or Not the US Participates
Forbes.com / Personal Finance | October 15, 2015
The US’s nonparticipation in the Organisation for Economic Co-operation and Development’s new Common Reporting Standard (CRS) imposes particular and potentially difficult requirements on many US financial entities, such as banks, mutual funds and trusts. With CRS implementation only a couple of months away, affected entities would be wise to begin the analysis of any necessary implementation steps.
Read the article, written by Denise Hintzke and published in Forbes.com.
Q&A: Deloitte talks about the common reporting standard
Family Wealth Report | August 21, 2015
In this feature interview with Denise Hintzke, director and Global FATCA Tax leader with Deloitte Tax LLP, she discusses the potential impact of the OECD’s Common Reporting Standard (CRS) on the private wealth sector. The article also quells the misconception that just because financial institutions are compliant with FATCA, it does not mean they are compliant with CRS.
US position on OECD standard problematic for trusts and funds
Tax Notes | August 17, 2015
In this article, Denise Hintzke discusses what United States financial institutions may consider in relation to the OECD’s Common Reporting Standard (CRS). Preparation for the US’ uncertain status as a participant in CRS could create a logistical nightmare for the US fund and trust industries if other countries decide to treat the United States as a nonparticipating. Download the full article written by Kristen A. Parillo, Tax Analysts.
1 Year later FATCA reporting
Tax Notes International | Volume 79, Number 1- July 6, 2015
Denise Hintzke, director, Deloitte Tax LLP and leader of its Global Foreign Account Tax Compliance (FATCA) initiative, discusses the obstacles and benefits FATCA presents for foreign financial institutions at the one-year anniversary of compliance with the law.
US Signs Competent Authority Agreements with Australia, UK
Tax Notes International | September 28, 2015
The competent authority of the United States entered into its first two competent authority agreements under the intergovernmental agreements it signed with Australia and the United Kingdom to implement the US Foreign Account Tax Compliance Act, the IRS announced. However, Denise Hintzke points out how the agreements do not address how the US will provide Australia and the UK with reciprocal information. Download the full article written by J.P. Finet, Tax Analysts.