News

NZ tipped to follow Aussie FATCA move

Monday 17th of September 2012

The Foreign Account Tax Compliance Act (FATCA), which comes into effect in stages over the next couple of years, is part of an effort by the US government and IRS (Internal Revenue Service) to crack down on overseas tax evasion by American citizens.

When fully implemented it will require 30% of any funds invested in America from overseas to be withheld by the IRS if the organisation inve...

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