FATCA Withholding Tax - ISDA Provision
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Content and comparisons
Template:M comp disc 2002 ISDA FATCA Amendment
Summary
You will see the attached added as a result of FATCA, so that a withholding imposed as a result of FATCA is excluded from the definition of Indemnifiable Tax — a definition which is already a quintuple negative, so this truly propels it into the stratosphere of convoluted drafting.
General discussion
The Foreign Account Tax Compliance Act — it its amigos, FATCA — is a US federal law requiring all non-U.S. foreign financial institutions identify those of their customers with “indicia” of a connection to the U.S., including being born there or having lived there, and report them and their assets to the U.S. Department of the Treasury.
See also
Template:M sa 2002 ISDA FATCA Amendment