“A U.S. tax crackdown is coming for foreign retirement plans. The U.S. has been pushing banks and individuals to report overseas assets, making it tougher to hide money abroad with new rules and penalties rolling out under the 2010 Foreign Account Tax Compliance Act. The next wave of scrutiny will cover retirement accounts. Foreign retirement plans generally must agree to report their U.S. account holders to avoid a 30 percent withholding tax on U.S.-sourced interest, dividends and proceeds from the sale of securities beginning July 1. Global companies with programs overseas will need to catalog their funded retirement plans to figure out which ones may be exempt, Hall said.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
A Finicky Thief of the Finest Silver Is Arrested Again
Peter Schiff: Anti Money Laundering Regulations Costing American Jobs
Norway Ready to Use Rate Cuts to Weaken Krone, Central Bank Says
IRS looking at Lindsay Lohan's cash appearance payments
Brussels fights US data privacy push
Mongolian Stock Exchange reforms unlock potential of 45 billion USD
New U.S. Sanctions Imposed on Iran to Halt Gold Trading
Richard Branson reveals 'tax exile' move to private Caribbean island
WTC memorial magnificent, but at a steep price
The End of Free Speech at University of Colorado?
NYC not liable for processing fake deed allowing theft of woman’s home
Google accelerates launch of new music service that downgrades unlicensed music
Trump considers nationalizing 5G mobile network to combat China
Icelanders Protest in Their Thousands as Parliament Sealed Off
The Five Largest Landowners in the U.S. (Three you probably never heard of)