FATCA for Companies: The New Reality of Payment Compliance

For those unaware, adherence to key Foreign Account Tax Compliance Act (FATCA) deadlines already passed earlier in 2016, and the final deadlines for compliance are approaching in January 2019. This means companies must register their suppliers in compliance with FATCA to avoid the maximum 30 percent withholding tax penalty.

According to KPMG, the US government has been hiring and training more than 3,000 IRS

FULL ARTICLE http://www.accountingweb.com/tax/business-tax/fatca-for-companies-the-new-reality-of-payment-compliance

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