US eases banks’ burden

The US Treasury Department on Wednesday eased the burdens imposed on many banks and other financial institutions by a crackdown on Americans’ offshore tax dodging, and enlisted five European governments to play a key role in the global effort.

At issue is the Foreign Account Tax Compliance Act, or FATCA, a controversial set of measures enacted by

FULL ARTICLE https://www.iol.co.za/business-report/international/us-eases-banks-burden-1230056

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