Tag: fatca

New international standards on transparency may create an onerous burden for corporate treasurers but they also open a window on new markets.

Compliance and KYC is here to stay. Stop complaining and improve your own due diligence senior treasurer executives advise.

With the US IRS making FATCA registration and GIIN data public, compliance consultants are building business intelligence databases that CFOs and treasurers might be interested in.

Deadlines for FATCA submissions on 2014 data have been pushed back in Singapore, while compliance experts say the complexity of intergovernmental agreements (IGAs) will cause broader delays across Asia.

Singapore extends US Foreign Account Tax Compliance Act deadlines; Taiwan regulator confronts China; RBI details rules for new small finance banks.

Reliance Industries, Aditya Birla Group, and Bharti Enterprises rushed to make a deadline to apply for bank licences in India; China's State Administration of Foreign Exchange has expanded pilots for cross-border foreign exchange; and the Reserve Bank of India has secured FATCA exemptions for small India banks.

Amid a host of anti-money laundering regulations, lenders are tightening the screws on cross-border payments. Treasurers in Hong Kong, for example, are being requested to supply detailed information on beneficiaries before payments are processed.

Far-reaching tax laws will force treasurers with US-related payments to register with the IRS to avoid painful penalties.

The last remaining Asian jurisdictions agreed in substance to comply with US FATCA, last week. Corporates should analyse entities in group companies for FATCA status.

The People's Bank of China issued a consultation paper on its deposit insurance scheme; Macau, Cambodia, and the Philippines will be treated as FATCA compliant, sign new IGAs; Australia will delay its Real Time Gross Settlement system until 2017

With the onslaught of regulatory pressure peaking in the next year, finance and treasury practitioners lack comprehensive systems.

Australia and China have signed an unprecedented free trade agreement that breakdowns nearly all tariffs and trade barriers; Thailand and Hong Kong have progressed on FATCA implementations; Singapore and Taiwan will link their stock exchanges in 2015