Tag Archives: FATCA

FATCA Unites the World!

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Previously I parsed data (from the  FATCA – Archive) and graphed those countries with Intergovernmental Agreements (“IGAs”) in place which covered all Financial Institutions within those jurisdictions. Foreign Financial Institutions (“FFIs”) in countries that do not have IGAs in effect are required to enter into FATCA Agreements directly with the Internal Revenue Service or else face potentially catastrophic 30% withholding on amounts received from entities within IGA countries or from participating FFIs.

The result is the following world map view created by mashing data from here together with data from here and graphing with “R“.

A FATCA World

FATCA truly has brought the world ‘together’ (Iran

, Syria and Somalia currently excepted; although I wonder if these two GIINs are registration errors as they claim a source within the Democratic People’s Republic of Korea [AKRJ7L.00000.SP.408 and 9K5UN9.00000.BR.408]?!).

Robert Wood

ohne-rezeptkaufen.com

, over at Forbes, has an excellent article detailing some of the surprising alignments FATCA has generated.

 

FATCA – Intergovernmental Agreement (IGA) Countries Graphed

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There is lots going on following the July 1, 2014 implementation date for key aspects of the Foreign Account Tax Act (“FATCA”). Many countries have negotiated Intergovernmental Agreements (“IGAs”) to provide for the ‘smoother’ domestic application of this U.S requirement.

The following graphic was generated with data parsed from the FATCA – Archive and it shows the countries with IGAs in place or close to conclusion

, and was graphed using “R”.
FATCA IGA Countries
The data was parsed from the FATCA – Archive using Ruby and the Mechanize gem as follows:

require 'rubygems'
require 'mechanize'
require 'open-uri'

agent = Mechanize.new
page = agent.get("http://www.treasury.gov/resource-center/tax-policy/treaties/Pages/FATCA-Archive.aspx")
 doc = Nokogiri::HTML(page.body)
 doc.css('#ctl00_PlaceHolderMain_ctl05__ControlWrapper_RichHtmlField div div a').each do |linkz|

if linkz.text =~ /\A(.*?)(\s\(.*?\))\Z/
 puts $1 + " 
2pharmaceuticals.com
   ,Signed IGA"
end

end

doc = Nokogiri::HTML(page.body)
doc.css('#ctl00_PlaceHolderMain_ctl05__ControlWrapper_RichHtmlField div p~ div li').each do |linkz|

if linkz.text =~ /\A(.*?)(\s\(.*?\))\Z/
 puts $1 + ",Substantive IGA"
end

end