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Trusts caught in FATCA net
Thursday 12th of November 2015
The Foreign Account Tax Compliance Act (FATCA) has come into force in New Zealand over the past 18 months.
The Act requires financial institutions around the world to provide information about customers who are United States “persons” to the IRS.
But a guidance note issued by the IRD makes it clear that family trusts in this country become financial institutions, with associated F...
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