EU Federation for the Factoring and Commercial Finance Industry

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EUF responds to US FATCA proposals

The EUF has written to the US tax authorities regarding the current FATCA consultation, (FATCA – REG-12647-10 Regulations Relating to Information Reporting by Foreign Financial Institutions and Withholding on Certain Payments to Foreign Financial Institutions and Other Foreign Entities) to state that as non deposit taking institutions, factoring and commercial finance companies should not be included in the proposals which create significant reporting obligations on subject businesses.

The detailed repsonse may be read here:

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