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PROM Full Form

PROM - Programmable Read-Only Memory

PROM stands for Programmable Read-Only Memory, a memory chip on which data can be written only once. Once a program has been written onto a PROM, it remains there forever.
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FATCA - Foreign Account Tax Compliance Act FATCA is an acronym for the United States Foreign Account Tax Compliance Act . India had entered into an agreement with the United States for implementation of the Foreign Accounts Tax Compliance Act (FATCA) with effect from August 31, 2015. The Foreign Account Tax Compliance Act (FATCA) is a 2010 United States federal law requiring all non-U.S. foreign financial institutions (FFIs) to search their records for customers with indicia of a connection to the U.S., including indications in records of birth or prior residency in the U.S., or the like, and to report the assets and identities of such persons to the U.S. Department of the Treasury. FATCA also requires such persons to report their non-U.S. financial assets annually to the Internal Revenue Service (IRS) on form 8938, which is in addition to the older and further redundant requirement to report them annually to the Financial Crimes Enforcement Network (FinCEN) on form 114 (also known ...
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