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Posts Tagged ‘us expats in dubai’

FATCA-logoAnd so the time has come…. FATCA

If you are from the US then you’ve probably heard of the Foreign Account Tax Compliance Act (FATCA), but are you aware of how it could affect you? The legislation came into full effect on the 1st of July 2014 and has many implications, particularly for US expatriates.

FATCA is a U.S. tax avoidance measure that requires foreign (non- U.S.) financial institutions (FFIs) to identify, report on and, in some circumstances, withhold on payments to account holders.

The premise behind FATCA is intended to increase transparency for the IRS with respect to U.S. persons that may be investing and earning income through non-U.S. institutions. Read more

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