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Understanding Investing 简体中文网页 Members section

ALFI publishes FATCA Q & A

- Press releases

ALFI's FATCA implementation working group published the Q&A document.

This document is updated regulary. The latest version can be found here: issue 2 (6th May 2014)

The agreement (IGA) between the Government of the United States of America and the Government of the Grand Duchy of Luxembourg to Improve International Tax Compliance and to Implement FATCA (Foreign Account Tax Compliance Act) has been signed on Friday March 28, 2014 in Luxembourg.

ALFI has been working hard to ensure that its members are best prepared for the implementation of FATCA. During the breakfast seminar, having taken place on 15 April 2014, after explanations of the content and the implications of the IGA, representatives of ALFI's FATCA implementation working group presented the Q&A document prepared by their group. The working groups comprise representatives of asset managers, management companies, securities service providers, audit firms, law firms, the Luxembourg Pension Funds Association and document and information management firms.

ALFI hopes that this document will serve its members as a reference document when implementing FATCA. It represents the view of a group of market participants and is not binding for the Luxembourg Tax Authorities or the national regulator. The document does not diminish the responsibility of management companies or investment companies to comply with national law or regulation. It must not be relied upon as advice and is provided without any warranty of any kind and neither ALFI nor its members who contributed to this document accept any liability whatsoever for any action taken in reliance upon it.

The answers are not necessarily definitive and they might not be suitable for every circumstance. The document may be amended without prior notice to incorporate new material and to amend previously published material where the working group considers it appropriate. ALFI will publish amended copies of this document to its members, showing marked-up changes from the immediately preceding copy.

ALFI's members are welcome to submit a question to the working group, who will review it and consider whether to respond to it in a future copy of this document. Please send your questions to info@alfi.lu. We will acknowledge receipt of each question but we regret that we may be unable to reply individually to each one.

Updated on 06/05/14
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