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Выбор редакции
24 октября, 18:18

IRS Offshore Account Collections Top $10 Billion, FATCA Hunt Continues

IRS has collected over $10 billion in taxes and penalties from Americans with offshore accounts, and FATCA disclosure pain is only beginning. As over 100,000 Americans have come into IRS compliance, are you safe?

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19 октября, 07:48

Beware More FBAR And FATCA ReportingChanges

FATCA has globalized U.S. tax reporting, and the risks of penalties or even prosecution are pervasive. More changes are coming.

15 октября, 21:29

America Central Bankers Provokes Russia Into WW3

Greece will receive €3 Billion In Emergency Liquidity from the ECB. In the US mortgage apps cratered by 13%.Striking works at the ports will hurt the economy further. The Baltic Dry Index declined once again. FATCA allows the government to hunt down US citizens. Hungary and Russia make gas transit... [[ This is a content summary only. Visit http://FinanceArmageddon.blogspot.com or http://www.newsbooze.com or http://goldbasics.blogspot.com for full links, other content, and more! ]]

15 октября, 17:00

Текст: Секретные швейцарские военные бункеры наполнены золотом миллиардеров ( Zero Hedge )

Источник 30.09.2016 Швейцария десятилетиями пользовалась репутацией хранителя банковской тайны, что сделало ее самым привлекательным местом для размещения капиталов среди миллиардеров всего мира. Но после 80 лет строгого следования принципам банковской тайны, правительство Швейцарии подписало серию двусторонних соглашений с рядом стран, включая соглашение с США, по условиям которого Швейцария обязалась соблюдать Закон США о соответствии иностранных счетов требованиям налогового законодательства (FATCA). Таким образом, банковская индустрия этой страны вошла в новую эру прозрачности, и теперь швейцарские банки вынуждены обмениваться налоговой информацией с более чем 100 с...

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10 октября, 16:04

Actor John Malkovich Wins Libel Suit Over False Tax Story, As FATCA Dislosures Continue

The actor wins small money but a big victory in his libel suit over a false story linking him to an offshore account.

05 октября, 19:31

Глава НБУ рассказала, что нужно для полной валютной либерализации

Украина придет к полной валютной либерализации, выполнив ряд условий, в том числе внедрив 10 из 15 принципов BEPS (Base Erosion and Profit Shifting).

03 октября, 01:15

Is America Becoming A Vast Debtor's Prison?

Submitted by Shaun Bradley via The Foundation for Economic Education, Since the United States was founded, citizenship has represented a safe haven from oppressive regimes around the world. By preserving the principles of small government and free markets, those who were willing to work hard found success, and America became a magnet for innovation. But as the U.S. continues to erode personal and economic freedom, more people than ever before are handing over their U.S. passports to seek better opportunities abroad. The staggering amount of debt held by the American empire ensures the public will be working it off for generations to come. The government has already begun its campaign to make it more difficult to leave the country, and it has also begun to crack down on the finances of the eight million Americans living abroad. Regardless of whether you’re a millionaire with multiple foreign bank accounts or a recent college graduate with a boatload of debt, the status of being a United States citizen brings with it a burden that will only grow heavier over time. Tax Refugees Since 2008, the number of individuals giving up their citizenship has increased by almost 560%, setting new records each of the past three years. Some of these expats are motivated by the extra tax load paid when working abroad, while others are trying to avoid student loan debt. Others have just had enough of the encroaching police state. Every taxpayer left in the country now owes more than $149,000 of the national debt, so it’s no surprise the tide is beginning to turn. By hook or by crook, in the coming years, citizens will be fleeced of that money through higher taxes, savings that are inflated away, and an overall drop in their standard of living. Many can see the writing on the wall and have become determined to protect themselves from the years of economic repression coming down the pipe. Draconian steps have already been taken to slow the rate of expatriation. For one, the IRS has broadened its reach into foreign bank accounts through the Foreign Account Tax Compliance Act. Through agreements with over 100 nations, the law is able to require all financial institutions abroad to report the account details of any American customers they have. With access to this new information, the IRS can revoke the passports of potential tax evaders and hinder their ability to travel using yet another additional power the agency was granted last year. The Internal Revenue Service is one of the most powerful agencies of the federal government and has a track record of persecuting groups for political reasons. The fact that they have now set their sights are expats shouldn’t surprise anyone. The Tea Party movement, whatever your views on it, experienced this first-hand during the 2012 elections. Jenny Beth Martin, national coordinator of Tea Party Patriots, spoke on the targeting scandal: The IRS has demonstrated the most disturbing, illegal and outrageous abuse of government power. This deliberate targeting and harassment of tea party groups reaches a new low in illegal government activity and overreach. Targeting the Young While penalties are being levied against those with enough money to work around the world, the most impactful measures are aimed at those just making ends meet. The initial paperwork for renouncing citizenship used to cost just $450, but it has skyrocketed to $2,350, making it the most expensive fee of any country in the world. It may not seem like much in the grand scheme of things, but this additional expense directly targets the young and working class, creating a huge barrier to even starting the process. As an added bonus, the price increase has raised over $12 million for government coffers in just over a year. The $19.5 trillion in debt that has been amassed through decades of interventionist policies and clandestine operations can only be maintained by taxing the government’s human livestock. After all, the federal government counts student loans as almost 30% of their net worth. If the young and productive workers of the future are allowed to leave, U.S. power and wealth will go with them. The Millennial generation has been completely duped by the federal loan programs, pumped out to any 18-year-old with a pulse. The $1.3 trillion in outstanding student loans is akin to indentured servitude for those entering the dismal job market. And students themselves aren’t the only ones on the chopping block — 90% of these loans are co-signed by the parents, attaching the ball and chain further up the family tree. For those tempted to jump ship and disappear into another country, their families will be held responsible in their stead. It’s reminiscent of North Korea, where the families of defectors are punished. Noah Brown, president of the Association of Community College Trustees, wrote: If you default, your financial life is ruined. You have to deal in cash for the rest of your life. It used to be death and taxes were the only certainty. You can throw in student loans now. Many are learning the hard way that these loans are unique and can’t be wiped away by simply declaring bankruptcy. Instead of the collateral being a house or a car, it’s future earnings that can be seized. Those who find themselves with no way out have been offered a deal with the devil — work in the public sector for 10 years and you will be granted your freedom. This has created a perverse incentive to work directly for the state, placing fresh cogs in the military, police, and bureaucratic machines. The policies seen so far are soft measures compared to what may be tried in the future as the government grows and the economy weakens. A new type of debt prison is being built in the U.S., and as the inmates realize their predicament, the rush for the exits could be chaotic — so long as people can afford to pay the fee to leave. Those who understand the fragile state of our economic and political system can see that when politicians start building walls, it may be more about keeping people in than out. Despite the brainwashing often conducted in public schools, many are realizing the future for U.S. citizens may look very different than the past. The freedom and opportunity that have been synonymous with U.S. citizenship are being transformed before our eyes. When America abandoned its core values and let loose the scourge of oppressive big government, the countdown to when citizens would pay the price began.  

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03 сентября, 18:45

FATCA: Could Israeli Injunction On US Sovereignty 'Violating' Tax Law Prompt Rethink?

Tax doesn’t have to be taxing. But the Israeli High Court’s temporary injunction against the enforcement of America’s controversial global tax law FATCA should serve as “a wake-up call” for other nations to rethink enforcing this “toxic, flawed and imperialistic legislation,” according to the boss of a leading independent financial [...]

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01 сентября, 14:35

БАГАЦ охраняет тайну вкладов иностранцев в Израиле

Судья БАГАЦа Ханан Мельцер временно запретил государственным органам задействовать юридический механизм, предназначенный для передачи информации властям США о счетах американских граждан в финансовых учреждениях Израиля.

08 августа, 19:49

Is the U.S. Due for Radically Raising Taxes for the Rich?

That’s what has usually happened whenever a large proportion of Americans have been upset with the distribution of their country’s wealth.

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03 августа, 12:50

Банкам придется вести дополнительную отчетность по FATCA

ФНС обязала банки обязаны информировать Центробанк, Росфинмониторинг и Федеральную налоговую службу почти обо всех изменениях реквизитов в рамках исполнения налогового закона США. Об этом говорится в письме ФНС, которое получили российские кредитные организации. По мнению экспертов, у российских банков прибавилось проблем с исполнением американского налогового закона FATCA (Foreign Account Tax Compliance Act). Нововведение может спровоцировать российские банки активнее закрывать корсчета в США, прогнозируют Известия . За неисполнение требований закона о налогообложении иностранных счетов FATCA российские банки могут попасть под санкции: при проведении трансакции через корсчет американского банка может быть удержано с кредитной организации 30% от суммы операции американского клиента. Кроме того, нарушение может грозить закрытием корсчета в банке США.

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03 августа, 08:51

Соблюдение налогового закона США обходится банкам всё дороже

У российских кредитных организаций появится дополнительная отчетность в рамках исполнения FATCA Подробнее читайте на нашем сайте www.oilru.com

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03 августа, 00:01

Соблюдение налогового закона США обходится банкам всё дороже

У российских кредитных организаций появится дополнительная отчетность в рамках исполнения FATCA

02 августа, 19:40

Joint Statement by the United States of America and the Republic of Singapore

1.      At the invitation of the President of the United States of America Barack Obama, Prime Minister of the Republic of Singapore Lee Hsien Loong made an official visit to the United States to celebrate 50 years of diplomatic relations and to enhance the bilateral strategic partnership.  For half a century, the two countries have built a strong relationship anchored by robust economic cooperation, security and defense cooperation, and enduring people-to-people ties.  Beyond bilateral cooperation, the two countries have worked as close partners to build a rules-based economic and security order for the Asia-Pacific and to address challenges on the global stage, including economic prosperity, climate change, terrorism, transnational crime, and the proliferation of weapons of mass destruction.   On the occasion of the visit and the August 2, 2016 meeting between the two leaders, the United States and Singapore adopted this Joint Statement, affirming a continued commitment to advancing their strategic partnership in the areas below. Supporting Robust Economic Cooperation and Commercial Connectivity and Driving Innovation 2.      The U.S.-Singapore economic and commercial relationship provides a model to the world for how open markets and fair trade practices increase prosperity and drive innovation.  Our shared economic priorities embrace trade liberalization, market reform, trade security, capacity building, innovation, entrepreneurship, climate change mitigation, clean energy, intellectual property protection, fair labor practices, and cyber security.  Today, over 3,700 U.S. companies are located in Singapore, making Singapore a premier destination for U.S. businesses. A growing number of Singapore companies have also established a presence in the United States.  3.      The two sides noted that the U.S.-Singapore Free Trade Agreement, the first such U.S. agreement in Asia and now in its 12th year, is a gold-standard agreement that has shaped other bilateral and multilateral FTAs in the region.  The largest of these, the Trans-Pacific Partnership (TPP), reflects the commercial dimension of the U.S. rebalance to Asia and Singapore’s commitment to high trade standards.  Both countries emphasized the strategic and economic importance of all participating countries to ratify the TPP agreement expeditiously, and both committed to strengthen trade capacity building among TPP members. 4.      The two leaders affirmed efforts to support expanding economic ties through closer cooperation on bilateral tax issues, and noted ongoing discussions between the two sides on  a tax information exchange agreement (TIEA), which will permit our two countries to exchange relevant tax information to enforce our respective tax laws, and an intergovernmental agreement (IGA) that provides for reciprocal automatic exchange of information with respect to certain financial accounts under the Foreign Account Tax Compliance Act (FATCA).  Both sides are committed to complete negotiations and sign the TIEA and the reciprocal FATCA IGA as soon as possible with the aim of doing so by the end of 2017. The leaders noted the two countries would ‎maintain discussions on whether to negotiate an Avoidance of Double Taxation Agreement in the future, taking into account double taxation with respect to both U.S. investments in Singapore and Singaporean investments in the United States and our mutual interest in avoiding base erosion and profit shifting by multinationals. 5.      The two leaders forged new cooperation on Smart City development and digital innovation.  This includes (a) identifying opportunities for research collaboration between the National Science Foundation and the Singaporean National Research Foundation, (b) sharing of best practices and information exchange between both Governments on topics such as smart city policies, digital government, urban innovation and digital citizen engagement, through, among other things, the Digital Government Exchange forum to be held in Singapore and the Discover Global Markets: Building Smart Cities forum to be held in Chicago, and exchanges between the White House Office of Science and Technology Policy and the Smart Nation Program Office in the Prime Minister’s Office; and (c) facilitating exchanges for start-ups, as reflected in the MoU between the city of Austin and Singapore. 6.      The two nations look forward to deepening their economic cooperation including under the U.S.-ASEAN Connect (“Connect”) initiative, announced in February 2016 by President Obama during the U.S.-ASEAN Leaders Summit at Sunnylands.  As the strategic framework for U.S. economic engagement with ASEAN, Connect will build upon U.S. government economic initiatives within ASEAN to support regional integration efforts and cooperation with the private sector. Singapore offered support for a new Connect program focused on the digital economy, which could include innovation policy workshops under the Third Country Training Program.  The two leaders confirmed collaboration on the third US-ASEAN Connect event to be held in Singapore in 2016, which will focus on themes such as digital economy and financial technology (FinTech). The inaugural Singapore FinTech Festival will be supported by the Connect Center in Singapore and the United States Department of Commerce.  The two leaders welcomed the signing of an MOU between the US Department of Commerce and Singapore's Ministry of Trade and Industry to promote collaboration in the infrastructure sector between US and Singapore companies in Southeast Asia and third-party markets. Enhancing Security and Defense Cooperation 7.      The two leaders reaffirmed the strong bilateral defense partnership, underpinned by the 1990 Memorandum of Understanding and 2005 Strategic Framework Agreement, and most recently elevated by the 2015 Enhanced Defense Cooperation Agreement.  Singapore trains or stations approximately 1000 personnel each year in the United States.  The United States deploys aircraft and ships to Singapore on a rotational basis to conduct a variety of regional maritime patrol activities covering counterpiracy, counterterrorism, humanitarian assistance, and disaster response. President Obama welcomed Singapore’s continued interest in the F-35 aircraft.  The two leaders expressed support to explore new training opportunities for the Singapore Armed Forces in Guam, with an eye toward a potential long-term training detachment for the Republic of Singapore Air Force.   8.      The United States and Singapore are committed to broadening and deepening our cooperation to promote an open, interoperable, reliable, and secure global Internet that supports innovation, economic growth and social development.  We are committed to ensuring that the digital economy remains a force for robust economic growth and prosperity.  Both sides expressed strong support for the new U.S.-Singapore MOU on Cooperation in the Area of Cybersecurity, which lays a foundation for expanding our cooperation on cyber issues.  The United States and Singapore affirmed their support for the multi-stakeholder approach to Internet governance.  We reaffirm, moreover, that the same rights that people have offline must also be protected online. Both sides pledged to deepen their information exchange and sharing, to conduct new bilateral initiatives on critical infrastructure cybersecurity, and to continue to cooperate on cybercrime, cyber defense, and on regional capacity building activities, including through joint exercises, regular exchanges and visits, joint R&D and capability development, regional cyber capacity building programs or initiatives. 9.      The two leaders endorsed a common approach to international cyber stability, affirming that international law applies to State conduct in cyberspace, and committing to promote voluntary norms of responsible state behavior in cyberspace.  The United States and Singapore affirm that no country should conduct or knowingly support online activity that intentionally damages critical infrastructure or otherwise impairs the use of critical infrastructure to provide services to the public; that no country should conduct or knowingly support activity intended to prevent national computer security incident response teams (CSIRTs) from responding to cyber incidents, or use CSIRTs to enable online activity that is intended to do harm; that every country should cooperate, consistent with its domestic law and international obligations, with requests for assistance from other states in mitigating malicious cyber activity emanating from its territory; and that no country should conduct or knowingly support cyber-enabled theft of intellectual property, including trade secrets or other confidential business information, with the intent of providing competitive advantages to its companies or commercial sectors.  10.  First discussed by both Leaders when they met in 2013, both leaders welcomed a new joint statement to extend the Law Enforcement and Homeland Security, and Safety Cooperation Dialogue for another 3 years, which reinforces the strong cooperation in law enforcement matters, including counter-terrorism and anti-corruption, between the two countries.  The two leaders also welcomed the MOU, which will be signed in September, between Singapore’s Home Team Academy (HTA) and the U.S. Federal Law Enforcement Training Centers (FLETC) to collaborate and share expertise and best practices in law enforcement training, leadership development, and capacity building.  Both countries sought to increase bilateral and regional cooperation to combat internet and computer crime. 11.  The United States has partnered with Singapore on a number of issues related to transportation security. Both sides welcomed the 2016 signing of a Memorandum of Understanding between the Transportation Security Administration and Ministry of Transport on capability development in the Asia-Pacific Region through joint training and capacity building to enhance the level of aviation security standards. The first joint training outreach event will take place in Singapore in 2017 where Asia-Pacific States will be invited to participate. Addressing Regional and Global Challenges 12.  Both countries reaffirmed their commitment to ASEAN Centrality and to strengthening the regional architecture in the Asia-Pacific, including existing ASEAN-led mechanisms such as the East Asia Summit (EAS) and the ASEAN Regional Forum (ARF) to better address common transnational challenges such as maritime security, climate change and trafficking-in-persons.  The two leaders highlighted the importance of the U.S.-ASEAN strategic partnership, and the principles underpinning this relationship as outlined in the Sunnylands Declaration, for the peace, prosperity, and security of the Asia-Pacific. 13.  The two leaders highlighted the success of the U.S.-Singapore Third Country Training Program (TCTP), which has received more than 700 officials from across ASEAN since its establishment in 2012. They expressed support for its continued growth, including in the areas of trade policy, environment protection, and addressing   non-traditional security threats. 14.  The two leaders resolved to enforce UN Security Council Resolution (UNSCR) 2270, adopted in response to the DPRK’s January nuclear test, which imposes unprecedented sanctions on the DPRK.  The United States welcomed and offered full support for Singapore’s commitment to prevent the proliferation of weapons of mass destruction, including the full and effective implementation of UNSCR 2270.  Both leaders welcomed the commitment to expand bilateral cooperation to ensure the enforcement of this resolution, including on cargo inspections, shipping, and finance. The United States welcomed and offered full support of Singapore's commitment to strengthen advanced cargo screening procedures, which is essential to securing the global supply chain, including through Singapore’s decision to conduct a three-year trial of the World Customs Organization’s Cargo Targeting System. Such measures play an essential role in securing global commerce, not only against proliferation from all sources, but against terrorism and other criminal activity. 15.  The two leaders acknowledged the continued global threat posed by terrorism and the need to enhance information sharing on counterterrorism related issues. The two countries have also co-invested $30 million to date under the 2006 Combating Terrorism Research and Development agreement to improve capabilities to combat terrorism.  Both leaders welcomed the extension of the agreement for another 10 years for investments up to $100 million.  The two leaders reaffirmed their commitment as Counter-ISIL coalition members to degrade and defeat ISIL.  President Obama welcomed Singapore’s commitment to continue existing contributions to coalition efforts, including the deployment of refueling tanker aircraft and an Imagery Analysis Team, as well as Singapore’s new commitment to deploy medical support to Iraq. 16.  The leaders reaffirmed the importance of maintaining regional peace and stability and upholding freedom of navigation in and overflight above the South China Sea.  They emphasized the importance of resolving disputes peacefully, including full respect for legal and diplomatic processes, without resorting to the threat or use of force, in accordance with international law, including as reflected in the 1982 United Nations Convention on the Law of the Sea.  They urged all parties to avoid actions that would escalate tensions, including the further militarization of outposts in the South China Sea.  They reaffirmed their support for the full and effective implementation of the Declaration on the Conduct of Parties in the South China Sea and the expeditious conclusion of a Code of Conduct in the South China Sea.   17.  Both countries affirmed the importance of addressing climate change and transitioning towards a low greenhouse gas emissions and climate-resilient development pathway, and committed to pursue a range of initiatives to advance these goals. They resolved to work together to implement the historic Paris Agreement.  The United States reaffirms its commitment to join the Agreement this year, and Singapore commits to taking the domestic steps necessary to join as soon as possible, with a view to joining in 2016.  They also called on all nations to support the Agreement’s early entry into force in 2016.  Both nations affirmed the importance of supporting the development and implementation of the transparency framework established under the Paris Agreement, with common modalities, procedures and guidelines. Both nations look forward to the early operationalization of the Capacity-building Initiative for Transparency.  They resolve to explore opportunities to collaborate on institutional and technical capacity-building activities to help other Parties meet the requirements of the transparency framework.  Both countries affirmed their commitment to work to adopt an ambitious and comprehensive hydrofluorocarbons (HFCs) phase-down amendment in 2016 within the Montreal Protocol pursuant to the Dubai Pathway. They supported the adoption of a global market-based measure (MBM) at the upcoming Assembly of the International Civil Aviation Organization for implementation from 2020, as part of a collective effort to address climate change through a comprehensive basket of measures. The leaders emphasized the importance of a global MBM in supporting the aviation industry's desire to grow sustainably and prevent a patchwork of national or regional MBM schemes given the cross-border nature of international flights. 18.  The two leaders commended the adoption of the fifth Plan of Action in August 2015 under the U.S.-Singapore Free Trade Agreement’s environmental cooperation Memorandum of Intent (MOI).  To protect our shared environment, the United States and Singapore commit to strengthen cooperation to conserve biodiversity and ecosystems by combating the illegal trade in CITES species, improving the capacity of institutions, and strengthening policies to ensure effective implementation and enforcement of environmental laws.  Singapore also stated its intention to positively consider implementing a ban on the domestic trade in ivory.  Both countries also look forward to deepening the exchange of information on environmental policies, best practices and the use of innovative environmental technology and pollution management techniques, and to work closely together and with other WTO Members to conclude an ambitious Environmental Goods Agreement (EGA) that eliminates tariffs on a wide range of environmental goods by the end of the year.  We also resolve to cooperate to conserve our oceans and to combat illegal, unreported, and unregulated (IUU) fishing, including by implementing port State measures in recognition of the importance of concerted international action to address IUU fishing as reflected in regional and international instruments, including the Port State Measures Agreement. 19.  The United States and Singapore affirmed their commitment to advance the Global Health Security Agenda (GHSA) to assist other countries to implement the International Health Regulations (IHR) and prevent, detect, and respond to biological threats, whether naturally occurring, deliberate or accidental.  In 2016, the United States underwent a Joint External Evaluation (JEE) of its national capabilities to achieve the GHSA and other IHR-related targets and will publish the results.  In 2017, Singapore will initiate a JEE.  The United States has made a commitment to assist at least 31 countries to achieve the GHSA targets, and Singapore will join two GHSA Action Packages to share best practices to assist others.  Singapore will also provide experts, where available, to support the assessments of other countries, including within ASEAN. Strengthening People-to-People Ties 20.  Both the United States and Singapore affirmed their commitment to further strengthen the already deep bonds of friendship, cooperation, and mutual understanding between the peoples of the two countries.  The United States welcomed the launch of an exchange scholarship program to mark 50 years of diplomatic relations and deepen people-to-people ties.  The scholarship will fund summer exchange programs for 50 Singaporean and 50 U.S. students over the course of the next 5 years.  In support of the U.S. Young Southeast Asian Leaders Initiative (YSEALI), which has grown into a network of more than 80,000 youth across the region, the U.S. will convene an Urban Planning Workshop in 2017 in Singapore.  Both sides recognized the success of the YSEALI program and the contributions made by its Singaporean participants in promoting innovation, inspiring cross-ASEAN connectivity, and advancing bilateral ties. 21.  The United States was pleased to open Global Entry eligibility to include citizens of Singapore from June 2016.  Singapore in turn allowed Americans to apply for its enhanced-Immigration Automated Clearance System (eIACS) under the Trusted Traveller Program (TTP).  Following the Joint Statement issued by the United States and Singapore on Dec. 1 2014, both countries had worked together to officially launch the TTP on June 27, 2016. The TTP reaffirmed the strong trust and ties that the United States and Singapore enjoy given that Singapore is the 1st ASEAN country to be in the program. These trusted traveler programs will make travel between our two nations more convenient and secure for travelers. Enhancing our Enduring Partnership 22.  Through a half-century of diplomatic relations, the United States and Singapore have forged an expansive and enduring relationship by cooperating on issues of mutual interest and shared principles.  Both leaders committed to further enhance the U.S.-Singapore strategic partnership, making it deeper, more substantive, and more effective to better support peace, stability, and cooperation across the region and around the world. 

02 августа, 05:31

GOP Woos Americans Abroad, Democrats Tell Them to Get Lost

Jim Jatras Politics, Americas This tax law is hurting American citizens overseas. American citizens who live outside the United States are one of the least visible constituencies in U.S. politics. This is despite the fact that, at up to nine million people, they are more numerous than the populations of all but about a dozen of our fifty states. The Obama years have been tough for American expatriates, or “expats.” The prime culprit is the so-called Foreign Account Tax Compliance Act (FATCA). Supposedly aimed at “fat cat” tax cheats with money stashed abroad, FATCA includes not a single provision targeting actual tax evasion. Instead, FATCA creates a wholesale NSA-style information dragnet requiring under threat of sanctions, all non-U.S. financial institutions (banks, credit unions, insurance companies, investment and pension funds, etc.) in every country in the world to report to the IRS data on all specified accounts of U.S. persons (but not corporations). No proof or even suspicion of wrongdoing is required. Hoping to avoid sanctions threats and crushing compliance costs, institutions around the world have been dumping American clients, making it increasingly difficult for them just to open a checking account and pay their everyday bills. Businesses once eager for our expats’ expertise now shun them because FATCA imposes U.S. regulatory oversight of companies in which Americans exercise signature authority. Read full article

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29 июля, 16:04

New York Art Consultant Indicted For Tax Crimes Over Offshore Accounts

FATCA's global reach means the IRS is getting more and more data on Americans worldwide. And indictments like this one show the increasingly harsh reality of failing to step forward to the IRS.

10 июля, 15:00

Закон FATCA против суверенитета России

С 1 января 2013 г. вступил в силу в полном объеме закон США «О налогообложении иностранных счетов» (Foreign Account Tax Compliance Act) … 1. FATCA - американский закон глобального действия. Закон этот особый. Он касается не только американцев, но также затрагивает так или иначе все государства мира и все финансовые организации на нашей планете. Многие […]

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30 июня, 08:02

Reporting Cash, Gold And Safety Deposit Boxes On FBARs?

With FBARs and FATCA, the IRS is getting loads of offshore information, and full disclosure can be the safest policy.

23 июня, 22:41

Credit Suisse (CS) Under Justice Dept. Probe

Legal hassles continue for Credit Suisse Group AG (CS) as the Swiss banking giant is under Justice Department scrutiny for its operations in Israel. US regulators are investigating the Zurich-based banking giant's procedures relating to handling of American clients.

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23 июня, 16:07

Swiss Banker Pleads Guilty To U.S. Tax Evasion As IRS Hunts Offshore Accounts

Post FATCA, the IRS offshore account hunt continues, and even foreign bankers are at risk.

30 июня 2014, 22:41

Швейцария сдалась: о банковской тайне можно забыть!

Швейцария сдалась: о банковской тайне можно забыть!  В понедельник Швейцария окончательно прощается со статусом страны-хранительницы банковской тайны. Всевид... From: Экономика ТВ Views: 3 0 ratingsTime: 02:35 More in News & Politics

14 февраля 2014, 01:35

ОЭСР предлагает глобальный обмен данными по офшорам

  Организация экономического сотрудничества и развития предложила создать глобальную систему автоматизированного обмена данными об офшорных банковских и брокерских счетах.  PDF В опубликованном пресс-релизе ОЭСР отмечается, что свое согласие на участие в работе данной системы предоставили уже более 40 стран. Официальное представление данной системы министрам финансов стран “Большой двадцатки” состоится на их встрече 22-23 февраля в Сиднее. В разработанном документе установлены базовые принципы обмена финансовой информацией об офшорных счетах между налоговыми ведомствами различных стран. Данная система была разработана к саммиту стран "Большой восьмерки" в июле 2013 г. По итогам саммита главы стран "восьмерки" в рамках в борьбе с уклонением от уплаты налогов и налоговыми преступлениями подписали Лох-Эрнскую декларацию. (Lough Erne Declaration, PDF). Вопрос о создании системы, о которой объявили в подписанной декларации ОЭСР, идет под первым номером:  G8: глобальная налоговая система будет изменена "Налоговые власти по всему миру должны обеспечить автоматический обмен информацией, чтобы бороться с уклонением от уплаты налогов".