thesis_automatic_exchange_of_information.pdf
(5.41 MB, PDF)
… 2016 Automatic Exchange of Information: A Caribbean Perspective Name: Johnathan F. Montesant Student ID: i6045260 Faculty: School of Business and Economics University: Maastricht University Study: Fiscal Economics Thesis Supervisors: Prof Dr (Hans) J.G.A. van Mierlo Prof Dr Rainer … than 250.000 USD as of 31 December of the related year it will be subject to review. This review will indicate whether the entity is indeed a reportable person. In order to determine whether this is the case, the financial institution is required to check information maintained for customer relationship purposes, to determine whether the entity is a resident of a reportable jurisdiction. This could be for example the place of incorporation or an address in a reportable jurisdiction. • New account … held by a U.S. person of a foreign entity with substantial U.S. ownership). If the account is indeed a reportable account, the FFI is required to report the balance or value, as well as the amount of dividends, interest and gross proceeds from the sale of property related to U.S. client’s account. While FFIs are normally foreign banks, in the case of FATCA is has a broader definition. It includes non-U.S. entities such as broker, dealers, insurance companies, hedge funds, private equity funds …