PETALING JAYA: Malaysian entities which qualify as a financial institution (FI) under the Foreign Account Tax Compliance Act (FATCA) will be obliged to comply with this US federal law come year-end when the Inland Revenue Board (IRB) is expected to enter into an intergovernmental agreement with the United States.
Among them are identifying and reporting on their customers, whether individuals and entities, who are considered to be US persons under FATCA, said PricewaterhouseCoopers Malaysia (PwC).
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