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On 17 January 2013, the US Internal Revenue Service (IRS) released the long-expected final regulations under FATCA (the Final Regulations). The same document was subsequently published in the US Federal Register on 28 January 2013.
The release of the Final Regulations has enabled targeted institutions worldwide to clear up certain uncertainties resulting from discrepancies between the Proposed Regulations released on 15 February 2012 and the provisions of the applicable Model Intergovernmental Agreements (IGAs). Among other things, the Final Regulations uphold, as expected, the implementation timeline laid down under Announcement 2012-42 released by the US Department of Treasury (US Treasury) on 24 October 2012 so that the key implementation deadlines under the Final...
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