Don't rush too fast into Fatca compliance: PwC
The recent Cayman-US tax agreement has sparked a rush of Asian managers seeking to register as Fatca-compliant, says PwC's Angelica Kwan – but they need to be ready first.
Hong Kong-based alternative asset managers with Cayman Islands-domiciled funds are rushing to comply with the US Foreign Account Tax Compliance Act (Fatca), after the Cayman authorities signed a tax information exchange agreement (TIEA) with the US at the end of last month.
Fund managers hope they will derive client-related benefits from being registered as Fatca-compliant, but they should be wary of registering if they are not in fact ready, says Angelica Kwan, US tax partner at …
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