FATCA Passthru 2017 Empowering Tax Compliance on a Global Scale

- Withhold tax on foreign passthru payments made to recalcitrant accounts and nonparticipating ... reported in years 2016 and 2017, with ... This has now been deferred two years to 1 January 2017. 2. Grandfathering protection from passthru withholding extended. It was highly ... FATCA seeks to accomplish this goal by requiring foreign ... Delay withholding on foreign "passthru payments" until at least 2017. FATCA The term passthru payment means any withholdable payment and any foreign passthru payment ... © Copyright, Haydon Perryman, 2016, 2017. Subscribe Subscribed. January 1, 2017. Withholding on foreign passthru payments. The Proposed Regulations reserve on the definition of a foreign passthru payment; the term ... effective alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden ... 2017 (see the Appendix for a FATCA timeline). • Position of UK ... apply FATCA withholding on passthru payments to others. Under the ... FATCA was the revenue-raising portion of the 2010 domestic jobs stimulus bill, the Hiring Incentives to Restore Employment (HIRE) Act, and was enacted as ... In 2010, the United States enacted FATCA to increase income tax reporting by US taxpayers on assets held in offshore accounts and through “Non-US Entities”. Under the 2014 temporary regulations, such substitute payments are subject to withholding if paid after January 1, 2017 ... foreign passthru payment. As announced ...