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foreign account tax compliance act

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How does FATCA affect NRI investments?

Governments worldwide have put systems in place to deal with tax evasion. However, despite the enforcement of stringent rules, even today, the United States suffers an annual tax evasion of approximately $1 trillion. The Foreign Account Tax Compliance Act or FATCA is what helps the US government minimize tax evasion via overseas accounts. Here’s a look at the law and how it affects Non-Resident Indians (NRIs) settled in the US.

Team FinFIRSTJun 03 • 3 mins read

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