Implementation Status of US Foreign Account Tax Compliance Act ("FATCA") in Malaysia

In March 2010, the FATCA was enacted in the United States (“US“) for the purpose of preventing the non-compliance of US persons with US taxation laws through the participation and cooperation of foreign governments and financial institutions.

FATCA Implementation in Malaysia

On 30 June 2014, Malaysia reached an agreement in substance with US to implement the FATCA, based on the Model 1



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