Centre to block accounts sans FATCA self-certification

The central government on Tuesday announced its decision to block accounts of those individuals who do not provide self-certification by April 30.

This would be done in order to comply with the provisions of the Foreign Account Tax Compliance Act (FATCA).

“This would mean that the financial institution would prohibit the account holder from effecting any transaction with respect to such accounts,”

FULL ARTICLE http://www.economylead.com/finance/centre-to-block-accounts-sans-fatca-self-certification-115423

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