On 12 July 2013, the US Internal Revenue Service issued a revised timeline for the implementation of the requirements of sections 1471 to 1474 of the Internal Revenue Code, commonly referred to as FATCA.

Highlights

• The implementation of FATCA withholding on US source income has been delayed by six months and will now commence on 1 July 2014 (rather than 1 January 2014).
• The grandfathering period for FATCA withholding on US source income has also be extended by six

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