Beijing FATCA Seminar hosted by AmCham Beijing and Montpelier
LehmanBrown was delighted to attend “Beijing FATCA” seminar hosted by Amcham Beijing and Montpelier on 28th May 2014.
The Foreign Account Tax Compliance Act (FATCA) is an anti-tax avoidance measure issued by the US Treasury and aimed at Foreign Financial Institutions (FFIs*) and other financial intermediaries to prevent tax evasion by US citizens and residents through the use of offshore accounts. If you have foreign assets in excess of $50,000 and are an American citizen or green card holder then FATCA will affect you.
Russell Brown, Managing Partner of LehmanBrown had been invited to share knowledge and opinions on the implications of FATCA, the steps necessary to be compliant and what additional steps can be taken to reduce the inevitable financial blow.