Reply To:
Name - Reply Comment
Last Updated : 2023-09-21 16:14:00
MENU
Thu, 21 Sep 2023 Today's Paper
US citizens in SL asked to register
25 June 2013 10:17 am - 7 - {{hitsCtrl.values.hits}}
.jpg)
The Sri Lanka Banks Association (Guarantee) Limited today informed all United States citizens living in Sri Lanka to register themselves with their respective banks so as to comply with US legislation termed the Foreign Account Tax Compliance Act (FATCA).The Association said the legislation is extra territorial in design and required citizens to report financial assets held overseas.
“It also requires Foreign Financial Institutions (FFJs) to report to the US Internal Revenue Service (IRS) about their American/US clients, The law requires financial institutions to report more extensively on business they conduct with US persons and introduce a new reporting and withholding regime for FFIs” the newspaper notice said.
It listed the respective categories which classifies those who fall within the ambit of the law.
“A US citizen (including an individual born in the US but resident in another country, who has not renounced US citizenship); A lawful resident of the US (including a US green card holder); A person residing in the US; A person who spends a certain number of days in the US each year and US corporations estates and trusts; Any entity that has a linkage or ownership to the US or to US territories; Non-US entitles that have at least one US Person as a “substantial beneficial owner”, the notice stated.
The Sri Lanka Banks’ Association (Guarantee) Ltd. is a Company registered under the Companies Act in Sri Lanka.
Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka
Comments - 7
Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka
-
ling Tuesday, 25 June 2013 10:30 AM
Oops, Gota and Basil must be cracking their heads now. Good move US.
Just Another Citizen Tuesday, 25 June 2013 10:52 AM
Now all the hora accounts will come to light
Ravi Tuesday, 25 June 2013 10:56 AM
ha ha thanks it’s an good move by USA slow but steady wish all the best for Gota Basil and other gill marts.
Calistus Jayatilleke Tuesday, 25 June 2013 12:31 PM
Now it is time for the "imperialist, capitalist" US citizens inside the government to register themselves and declare their allegiance to their Masters in the United States. Weerawansa, where are you?
Fair N Square Tuesday, 25 June 2013 01:08 PM
why does ALL banks around the world have to comply with the demand of US, for ITS citizens.... They cannot order other countries to be in line for their benefit... CAN SL do the same? Bet not.. US wont do nothing IF it was to ONLY benefit SL...
jane Tuesday, 25 June 2013 01:30 PM
Wow the ART OF WAR is at work
curious Tuesday, 25 June 2013 01:36 PM
USA citizens will think twice having any fund in SL and as a result the banks will lose customers and as well as funds coming into SL.
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka
Purchasing of medicine: How Health Ministry initiated ploys to enjoy lofty commissions
The country’s health sector has recently witnessed allegations of massive c
“Our education system should cater to the child of the 21st Century” - R. M. M. Ratnayake, Royal College Principal
Having passed the Sri Lanka Education Administrative Service Exam in 1988, Mr
Gary Anandasangaree Canada’s First Sri Lankan Tamil Cabinet Minister
History was made on July 26, 2023, when Sri Lanka-born Gary Anandasangaree wa
Most Viewed in News
TODAY'S HEADLINES
Blame game over Gothatuwa sinkhole
7 hours ago
Police officer ‘threw out’ scrap paper
7 hours ago
President firm on no further Cabinet expansion
7 hours ago
MIRROR CRICKET
