FATCA: Be prepared, take action
Time
9.00 am – 11.00 am (Registration from 8.30 am onward)
Venue
Level 16, PwC Training Centre, Sheraton Imperial Hotel (Office Tower) Jalan Sultan Ismail, KL
Overview
In March 2011, the US Government enacted the Foreign Account Tax Compliance Act (FATCA). FATCA is a US tax law that applies to non-US Financial Institutions (banks, brokers, security dealers, asset management, mutual funds and more) subjecting them to US tax information reporting requirements or face a non-refundable 30% US withholding tax on their income from US sources (and in many cases some non-US sources).
The withholding will begin as of January 1, 2013 and Malaysian financial institutions need to act now to evaluate their response to this law. To avoid the withholding and comply with the information reporting will necessitate significant effort across all the business units of an institution. FATCA is not simply a tax issue, but a business, operational and compliance issue.
FATCA does not only impact US account holders and those with direct US source income.
PwC is organising a briefing to help you understand more about FATCA, what it means to your organisation and what actions you should be taking now. Our speaker, Greg Lamont is a US tax partner based in PwC Thailand and heads up the US tax consulting for the South East Asia region.
Registration
As seats are limited, please reply early. Registration is on a first-come-first-served basis. Submit the completed registration form to us via mail, fax or email events.info@my.pwc.com by 28 July 2011.
