WASHINGTON (Reuters) - The United States has reached an agreement with China on implementing and enforcing a new U.S. law meant to combat overseas tax avoidance by Americans, a U.S. Treasury Department official said on Thursday.
Long seen as a crucial step for the rollout of 2010's Foreign Account Tax Compliance Act, or FATCA, the agreement in substance with China was concluded just days before the law is set to take effect on July 1.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
