Morrison & Foerster's Thomas Humphreys and Remmelt Reigersman; IFLR's Lucy McNulty
By now many have heard of the US Foreign Account Tax Compliance Act (FATCA) and its impact on the US and international capital markets. The FATCA provisions, which will be phased in beginning on January 1 2014 could dramatically alter the way US corporations raise funds abroad, the way non-US financial institutions are forced to comply with US tax law, as well as the way many foreign investors invest in US securities.
The panel will discuss:
The background of FATCA;
The FATCA 30% tax on "withholdable payments" such as interest, dividends, and securities sales proceeds beginning January 1 2014 and on "passthru payments" beginning January 1 2017; and,
The impact of FATCA on capital markets transactions including equity and debt offerings, swap transactions and other structured products.