Daniel Carpenter explores the complicated nature of FTTs across different regions and the necessity for banks globally to update and industrialize their tax systems to handle the increasing number of in-scope securities across these extraterritorial taxes. 

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First published in Bloomberg Tax & Accounting on 14th December 2020.  

Reproduced with permission from Copyright 2020 The Bureau of National Affairs, Inc. (800-372-1033)  www.bloombergindustry.com.