Foreign Branches News Today

Indian banks increased their overseas presence through the subsidiaries route and their employee strength rose by 0.5 per cent and 6.2 per cent for foreign branches and subsidiaries, respectively,...

Indian banks increased their overseas presence to 417 in 2022-23, according to a Reserve Bank of India survey. Employee strength also rose by 0.5% and 6.2% for foreign branches and subsidiaries, respectively. However, the number of branches and employees of foreign banks in India contracted to 774. The shift of retail business from a major foreign bank to a domestic private sector bank led to a decline in aggregate deposits and credit, but increased capital and investments.

This article discusses IRS form 8858 and how foreign entity disclosure is  not exclusive to foreign entities like Controlled Foreign Corporations and...

U.S. parented corporations that have foreign operations conducted through a foreign legal structure have significant U.S. tax filing and reporting obligations.

This year the extended tax filing deadline for U.S. citizens or residents, sole proprietorships, C corporations, and single-owner LLCs is Monday, October 17, 2022. Through the course of...

This year the extended tax filing deadline for U.S. citizens or residents, sole proprietorships, C corporations, and single-owner LLCs is Monday, October 17, 2022.

On January 25, 2022, the US Financial Crimes Enforcement Network ("FinCEN") published a Notice of Proposed Rulemaking ("NPRM") to establish a pilot program to permit financial institutions with a

Unintended consequences of foreign branch reporting By Ioana Lacatusu, CPA, MBA, Dallas, and Jerry Seade, J.D., LL.M., Houston Related In December 2018, the IRS issued revised instructions to Form 8858, Information Return of U.S. Persons With Respect to Foreign Disregarded Entities (FDEs) and Foreign Branches (FBs), which expanded the requirement to file this form to include the reporting of foreign branch operations of U.S. persons, controlled foreign corporations (CFCs), and controlled ...