Their View: US should stop helping criminals hide money heraldcourier.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from heraldcourier.com Daily Mail and Mail on Sunday newspapers.
Bloomberg Opinion: The US should stop helping criminals hide money decaturdaily.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from decaturdaily.com Daily Mail and Mail on Sunday newspapers.
People are ‘facing high renunciation fees and a very complex procedure’ to waive their US citizenship
The European Council has sent a letter to Internal Revenue Service (IRS) commissioner Charles Rettig to schedule a meeting between EU member states, financial institutions, and the US regulator.
The Council is pushing the meeting to address the impact that the Foreign Account Tax Compliance Act (Fatca) is having on “EU residents with a double nationality who are faced with unnecessary closure of bank accounts due to the obligations under Fatca”, Martin Kreienbaum, director general of international taxation at the EU Council, said.
The US legislation sets out that any US citizen living abroad is bound, alongside their foreign financial institutions, to report data to the IRS for tax purposes.
The US should stop helping criminals hide money bedfordgazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bedfordgazette.com Daily Mail and Mail on Sunday newspapers.