A report published by the China Post in Taiwan on Sunday, hinted that another six-month delay may be likely in implementing the Foreign Account Tax Compliance Act (“FATCA”). If the report is correct, this would be the third delay in rolling out what has been described by many as the most over-reaching and egregious US legislation to come down the pike. In October 2012 and again in July of 2013, the US announced six-month delays in implementing FATCA due to the practical difficulties in setting up the measures required to have foreign financial institutions around the world reporting about their United States customers.

If the latest report is true, it would be the third time that the US has delayed implementing FATCA. Perhaps, third time, the charm? Read More