Question
What is FATCA certification?
Solution
The Foreign Account Tax Compliance Act (FATCA) is a 2010 United States federal law to enforce the requirement for United States persons including those living outside the U.S. India has signed an agreement called the Inter-Governmental Agreement (IGA) with the US last year for automated exchange of information between the two countries. This initiative is for improving the International Tax Compliance and implementing the Foreign Account Tax Compliance Act (FATCA).
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