FATCA Passthru 2017 A Game-Changer for Global Tax Reporting

This document contains proposed regulations eliminating withholding on payments of gross proceeds, deferring withholding on foreign passthru payments. January 1, 2017. Withholding on foreign passthru payments. The Proposed Regulations reserve on the definition of a foreign passthru payment; the term ... Moreover, the proposed regulations delay withholding on foreign passthru payments until 2017 at the earliest. Extension of the Transition ... Reporting on gross proceeds is to begin in. 2017. Passthru Payments. The proposed regulations would provide that withholding is not required ... With the issuance of the Final Regulations, taxpayers and other affected stakeholders have increased clarity regarding the application of FATCA ... SVB to begin withholding on all undocumented pre-existing entity accounts. January 2017. Withholding on gross proceeds and pass thru payments begin. Reverse ... Under the 2014 temporary regulations, such substitute payments are subject to withholding if paid after January 1, 2017 ... foreign passthru payment. As announced ... FATCA becomes effective beginning July 1. 2014 and will be phased-in over two and a half years, ending in 2017. ... • Start Foreign “passthru” withholding on ... (from 1 January 2017); and. □ 'foreign passthru payments' (foreign source payments originating from an FFI, to the extent 'attributable to ... Here, FATCA imposed withholding to on these “foreign pass-through payments” so that U.S. citizens could not avoid U.S. taxation by moving ...