Regulatory Alerts2014-01-01
Decision No. (1) for the Year 2014
The Financial Regulatory Authority (FRA) issued Decision No. (1) of 2014 to establish the procedural framework for implementing the US Foreign Account Tax Compliance Act (FATCA). The directive requires non-banking financial market institutions to organize and execute specific compliance and reporting measures for accounts held by US persons. This regulatory measure ensures alignment with US tax obligations and standardizes information exchange procedures for American account holders within the Egyptian financial market.
Share