The US is the world's largest capital market. Its withholding tax system is also the most complex. This book is essential reading for investors and intermediaries trying to comply with US QI and FATCA tax regulations. It guides the reader through these complex regulations with simple and practical insights into how to meet these compliance burdens.

'From the G8 meeting on the shores of Lough Erne to the G20 summit in the palaces of St Petersburg, tax is now up there on the agenda with economic recovery, financial stability and geo-political strife. The lines between tax probity, tax avoidance and tax evasion are becoming blurred through political and economic necessities faced by governments and financial services firms are both a target and a conduit for regulators. The risks to financial services firms and their clients are sizeable. Ross McGill's latest book is a timely and important addition to the armoury that investment professionals need to understand and address the deluge of increasingly intrusive regulation facing their clients.'

• George Littlejohn MA FCA MCSI, Senior Adviser, Chartered Institute for Securities & Investment

'This is a must read book for people in financial services that will sit proudly on any bookshelf. The writing skill of the author makes a complex topic easy to understand.'

• Gary Wright, Founder and Managing Director of B.I.S.S. Research Ltd

Autorentext

ROSS MCGILL is a well-known industry subject matter expert on US withholding tax and regulatory compliance. He sits on many industry bodies, international committees and associations and has worked with many of the world's largest financial institutions to support their operational compliance.

Inhalt
Introduction PART I: THE QI REGULATIONS 1. Principles of Code Chapter 3 2. QI Contracts 3. Documentation 4. Withholding, Depositing and Refunding Tax 5. Information Reporting 6. Control and Oversight 7. Penalties 8. Issues for NQIs PART II: FATCA 9. Moral Outrage and Righteous Indignation 10. Principles of FATCA 11. Simplifying FATCA 12. Identification and Documentation 13. Reporting 14. FATCA Withholding 15. FATCA Accreditation PART III: Related Global Tax Initiatives 16. OECD 17. European Union