Posts Tagged offshore reporting
FATCA and the Law of Unintended Consequences.
We have long warned of the unintended consequences of America’s FATCA law (the Foreign Account Tax Compliance Act). The problems inherent in the law are many while the anticipated benefits are few. Although the law will doubtless bring in more revenue, the costs to banks and the public are huge and simply increasing public awareness [...]
The Promised Land – FATCA Causes Record Number Of Americans To Leave
Two weeks ago we wrote a post about the record numbers of Americans ripping up their passports. Yes, its true. CNN reports that 2013 is on track to be a banner year for people renouncing their citizenship. While Congress debates immigration reform, more and more people are seeking to leave the U.S. Our post from [...]
Here Come The Vultures – FATCA Post
by Brian Mahany It didn’t take very long. Like vultures circling a dying carcass, shortly after the meltdown of Cyprus’ financial industry, competing tax havens have began soliciting investors. With the implementation of FATCA just months away, there are some important lessons in this story. Cyprus was long a tax haven. Many Russians opened accounts [...]
Recent Comments