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Negotiations

Chinese wall might inspire other countries

The apparent Chinese reluctance to negociate an agreement with the US tax authorities makes international banks nervous. From 2016 the “extended affiliated group” notion could put them into the “NPFFI” category.

At what stage are negotiations between Chinese and American authorities?Over the last 12 months, based on discussions I have had with regulators and banks in Beijing, there have been indications of planned talks between Chinese government officials, the American Department of the Treasury and the IRS, and one of the topics on the agenda was FATCA.However, to the best of my knowledge, the discussions have not taken place.During the last few weeks I have heard comments about discussions being held, but these have not been confirmed.It is therefore difficult to say with any degree of ...
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