US offshore tax evaders beware: FATCA starts July 1 | Bangkok Post: news

News > World

US offshore tax evaders beware: FATCA starts July 1

- +

US tax evaders will find it harder to hide money abroad from Tuesday, when a law comes into effect requiring foreign banks to report their offshore accounts. 

US tax evaders will find it harder to hide money abroad from Tuesday, when a law comes into effect requiring foreign banks to report their offshore accounts

Banking centers like Switzerland and Luxembourg that agreed to the US Foreign Account Tax Compliance Act (FATCA) will have to begin turning over account names and other data to US financial authorities so that they can tax unreported income.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments