The Foreign Account Tax Compliance Act, abbreviated FATCA, is a U.S. law adopted by the US Congress in March 2010.
In compliance with FATCA (Foreign Account Tax Compliance Act), institutions such as banks, asset managers and insurance companies around the world, must provide information of individual and corporate, capital income and capital assets, to the US Federal Tax Administration, the IRS. The FATCA agreement implies that the Swedish Tax Agency and US IRS exchange data of capital income and capital assets with each other. The Swedish Tax Agency provides information concerning US citizens and the United States provides data on Swedish citizens and legal entities correspondingly. SI Consulting has assisted several banks in data management around FATCA. We can offer quality checks and / or updates of existing work.
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