FATCA Regulations - AKW Consultants - Dubai

FATCA, the Foreign Account Tax Compliance Act, plays a crucial role in identifying U.S. individuals and collecting and storing their financial information, including total asset value and Social Security numbers. Financial institutions in countries outside the U.S. are required to report this information to the IRS. FATCA was enacted in 2010, and non-compliance with FATCA requirements can result in a 30% withholding tax on payments received from the U.S.

At AKW Consultants, we specialize in determining a company's classification in accordance with FATCA regulations. We conduct comprehensive assessments to identify gaps in compliance with FATCA requirements and provide support to bridge these gaps. Our services include the development of compliance policies and procedures, thorough investigations to ensure policy adherence, and the final step of reviewing and submitting the required reports. Accurate FATCA reporting is a critical aspect of compliance with FATCA, and our expert support ensures that organizations meet their obligations effectively. If you are seeking expert guidance and support for FATCA and CRS compliance, please don't hesitate to contact AKW Consulting at +971 54 582 1550.