In what could be described as a calculated move albeit applied with great stealth, depositors in Cyprus woke up recently to find out, that a portion of their...
In what could be described as a calculated move albeit applied with great stealth, depositors in Cyprus woke up recently to find out, that a portion of their hard earned savings miraculously disappeared (via a tax / levy) at the hands of the government magicians with no promises that the appropriation of funds would reappear.Just when you thought ‘bail-out’ was no longer in fashion, then presto another troubled euro-zone economy comes begging for a rescue. Only this time,...
In what could be described as a calculated move albeit applied with great stealth, depositors in Cyprus woke up recently to find out, that a portion of their hard earned savings...
Why are Foreign Financial Institutions (FFIs) spending so much time and energy on Foreign Account Tax Compliance Act (FATCA) ? FATCA is a US regulation whose...
Why are Foreign Financial Institutions (FFIs) spending so much time and energy on Foreign Account Tax Compliance Act (FATCA) ? FATCA is a US regulation whose sole purpose is to recover owed tax revenue from previously unidentified assets and incomes domiciled outside of the US. FFI's non compliance with this regulation will be met by significant withholding on any meaningful income generated from the USA. This method of enforcement is possible because the US is such an...
Why are Foreign Financial Institutions (FFIs) spending so much time and energy on Foreign Account Tax Compliance Act (FATCA) ? FATCA is a US regulation whose sole purpose is to recover owed tax...
