India to sign an agreement for Foreign Account Tax Compliance Act
The Dollar Business Bureau Indian government is likely to sign a pact for the United States tax compliance law Foreign Account Tax Compliance Act, in July 2015. An official statement in this regard was made by Akhilesh Ranjan, a Joint Secretary in Ministry of Finance, Government of India. “Indian government is likely to sign the Intergovernmental Agreement (IGA) for FATCA in early July 2015,” said Akhilesh Ranjan, Joint Secretary (Foreign Tax and Tax Research Division), Ministry of Finance, on Thursday. The Finance Ministry official was speaking at the round-table discussion on ‘Implementation of FATCA norms in India’ organised by Federation of Indian Chamber of Commerce and Industry (FICCI) in New Delhi. FATCA compliance will necessarily have to cover all new accounts opened by ...
