Financial institutions asked to register for FATCA by Dec 31
All Indian financial institutions with exposure to the US will have to register by Wednesday with the American tax authorities to avoid a hefty penalty tax of up to 30 percent under the new Foreign Accounts Tax Compliance Act (FATCA).
Dec 30, 2014, 22:56 PM ISTIndian firms start FATCA registration; pact yet to be signed
Accordingly, close to 1,000 entities, including banks and mutual funds, have registered themselves and have got Global Intermediary Identification Numbers (GIINs), sources said.
Dec 29, 2014, 18:43 PM IST