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CGCC Co-Hosts Seminar on FATCA Topic with Deloitte and AUCPA
October 25, 2013 -- CGCC Co-Hosted Seminar in partnership with its Associate Member - Deloitte and Association of US - China Professional Accountants (AUCPA) on October 25th, 2013 in Deloitte’s New York headquarter with the topic of “Foreign Account Tax Compliance Act (FATCA) and its Impact on Chinese Financial Institutions”.
Denise Hintzke, the Deloitte Global FATCA Tax Leader and John Crager, Global Head of Tax at HSBC HSS Fund Services were invited to speak with their observation and experience on the likely impact of FATCA on banks and foreign financial institutions holding and trading U.S. assets and investments and the importance of compliance with the regulation.
The speakers gave a comprehensive overview of the history of development of FATCA and its purpose as well as the most updated progress of implementation and current timeline. The IRS and U.S. Department of Treasury’s approach and the compliance and non-compliance issues for Foreign Financial Institutions were discussed. The speakers also went through the list of the negotiation progresses on Inter Government Agreement between U.S. and other countries and regions around the world.
Sandy Lee, Deloitte Chinese Services Group East Region Leader and Steve Zhang, President of AUCPA delivered welcome remarks on behalf of their organizations respectively.
More than 50 guests attended the seminar. CGCC member companies including Sinopec USA, China Construction Bank New York Branch, China Unicom (Americas) Operations, Cathay Bank, Haier America, DeHeng Chen, LLC, Hu-Lift Equipment USA, Newco Apparel Group, Pan America, Qiqihar Linen Mill (USA) Corp., Eisner Amper and Patton Boggs sent representatives to join the event.
