US Withholding Tax Practical Implications of QI and FATCA /

• Main Author: McGill, Ross (Author, http://id.loc.gov/vocabulary/relators/aut)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Cham : Springer International Publishing : Imprint: Palgrave Macmillan, 2019.
• Edition: 2nd ed. 2019.
• Series: Global Financial Markets
• Subjects: Accounting.; Business enterprises-Finance.; Bookkeeping .; Economic policy.; Financial Accounting.; Business Finance.; Accounting/Auditing.; Economic Policy.

The US QI and FATCA regulations came into being in 2001 and 2010 respectively. They remain today the most challenging cross border tax regulations for financial institutions to comply with and operationalise. There is an increasing trend for financial institutions to become QIs while at the same tim...

Table of Contents:

• Introduction
• Part I The QI Regulations
• 1. Principles of IRC Code Chapter 3 - 2. Contracts: The QI Agreement-With Commentary
• 3. Documentation
• 4. Withholding and Depositing Tax
• 5. Information Reporting and Tax Returns
• 6. Control and Oversight
• 7. Penalties
• 8. Issues for Non-qualified Intermediaries
• 9. 871(m) and QDD
• PART II FATCA
• 10. An Introduction to FATCA
• 11. Principles of FATCA
• 12. Due Diligence
• 13. Simplifying FATCA
• 14. FATCA Withholding
• 15. Reporting
• PART III: Related Global Tax Initiatives
• 16. International Context
• 17. Conclusions
• 18. Further Reading.