“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:
FBI to tear down its headquarters; no plans to sow salt in earth at site
Mother takes son’s police shooting case to UN Human Rights Committee
Under U.S. tariff pressure, world's largest semiconductor plant to be built in China
New Zealand military told to soften manual that equates media with extremist groups
Bulgarian protesters: ‘Even if we are smiling, we are angry’
Nineteen ICE agents call for dissolution of agency
Bitcoin start-up calls out Commonwealth Bank on accounts suspended without warning or explanation
Bitcoin to Congress: Back Off
For U.S. firms, the Iran deal means pistachios, airline parts and carpets
Export stats confirm massive outflow of Western gold to Asia, maybe ETF gold
Trouble Could Be Looming for Puerto Rico Bond Insurers
Cop fired 12 shots, hit unarmed man 10 times, Charlotte police say
Meet The 'Assassination Market' Creator Who's Crowdfunding Murder
Brazil Doubles Gold Reserves as Central Banks Buy Bullion
Russia seeks safe haven in gold, away from dollar and euro