Impact of FATCA on Israeli trust structures
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The work Impact of FATCA on Israeli trust structures represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Continuing Resources.
The Resource
Impact of FATCA on Israeli trust structures
Resource Information
The work Impact of FATCA on Israeli trust structures represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Continuing Resources.
- Label
- Impact of FATCA on Israeli trust structures
- Language
- eng
- Summary
- Israel is going to exchange financial account information with the USA and, eventually, other countries as well. As a result, it is imperative that all trusts be certain of their status under the Foreign Account Tax Compliance Act (FATCA). On 1 August 2016, the Finance Committee confirmed Israel's regulations implementing the FATCA intergovernmental agreement (IGA) signed between Israel and the USA in 2014. A request was filed with the Israeli High Court of Justice in January 2016 seeking to prohibit the Israeli tax authorities from sharing details of financial accounts with the US Internal Revenue Service (IRS). The Court denied that request on 12 September 2016. As a result, Israeli trust structures, of they have not done so already, must determine which entities in the structure have FATCA registration, due diligence, and reporting requirements
- Citation source
- In: Trusts & trustees. - Oxford. - Vol. 23 (2017), no. 3 ; p. 280-285
- Geographic coverage
-
- Asia
- Middle East
- North America
- Language note
- English
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