FATCA (Foreign Account Tax Compliance Act) and Brazil was another great event by The Brazilian Chamber of Commerce. This Act requires foreign banks to report US account holders to the IRS and even withhold 30% of their bank account. While "viable options" for intergovernmental cooperation are being discussed US and Brazil should enter in a "TIEA" treaty (Tax Information exchange Agreement).
See the event, venue and speakers:
http://brazilcham.com/civicrm/event/info%3Freset%3D1%26id%3D35926
Other helpful links:
http://www.forbes.com/sites/robertwood/2012/11/13/u-s-is-doing-fatca-deals-with-50-countries/
FEBRABAN's (Association of Banks in Brazil) letter to United States' Government:
http://www.bakerlaw.com/files/Uploads/Documents/FATCA/Comment%20Letters/FEBRABAN-Federation-of-Brazilian-Banks.pdf
http://fedtaxdevelopments.foxrothschild.com/2012/05/articles/federal-taxation-developments/recent-irs-hearings-on-fatca-implementation-draws-criticism-from-the-banking-and-financial-services-sectors/
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Luncheon - Monday, February 4, 2013
Join us for this a panel discussion on:
FATCA and Brazil: A Way Forward?
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| This event was originally scheduled for November 1st, due to Hurricane Sandy it was postponed to February 4th. |
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The US FATCA rules, aimed at curbing tax avoidance by U.S. persons through offshore accounts and investments, raise significant commercial, tax, legal and compliance issues for non-U.S. financial institutions. The panel will summarize the application of the FATCA rules and discuss their impact on international banks, funds, broker-dealers and insurance companies, with a focus on Brazil. We will address the Brazilian legal and tax implications of the new regime and how Brazilian market participants are dealing with the requirements, both individually and through their representative bodies. We will finally discuss the bilateral route for FATCA compliance, its advantages and the Brazilian position in respect to this alternative.
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Moderator:
Julio Castro, Partner, KPMG LLP
Speakers:
Murilo Portugal, President, FEBRABAN
Professor Antônio Moura Borges, Attorney, Brazilian National Treasury
Sarah Miller, CEO, Institute of International Bankers
Luiz Felipe Ferraz, Partner, Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados LLP
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Please forward to your business associates.
Please disregard if you have already registered.
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Monday, February 4, 2013
12:00 PM to 2:30 PM
KPMG Heritage Center
345 Park Avenue
Ground Floor
New York City
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Supported by:
Brazilian American Chamber of Commerce
509 Madison Avenue
Suite 304
New York, NY 10022
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Copyright © 2012. All Rights Reserved.
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http://brazilcham.com/civicrm/event/info%3Freset%3D1%26id%3D35926
http://www.forbes.com/sites/robertwood/2012/11/13/u-s-is-doing-fatca-deals-with-50-countries/
FEBRABAN's (Association of Banks in Brazil) letter to United States' Government:
http://www.bakerlaw.com/files/Uploads/Documents/FATCA/Comment%20Letters/FEBRABAN-Federation-of-Brazilian-Banks.pdf
http://fedtaxdevelopments.foxrothschild.com/2012/05/articles/federal-taxation-developments/recent-irs-hearings-on-fatca-implementation-draws-criticism-from-the-banking-and-financial-services-sectors/
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