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The potential penalties for noncompliance with the new tax laws can hugely affect the banks' bottom lines. http://online.wsj.com/article/SB10000872396390444592
by rdouble 14y ago
The potential penalties for noncompliance with the new tax laws can hugely affect the banks' bottom lines.
http://online.wsj.com/article/SB10000872396390444592704578062570295543436.html http://online.wsj.com/article/SB1000087239639044459270457806...
- geoka9 14y agoWow. Forcing foreign jurisdictions to follow one's domestic regulations to help enforce compliance of one's citizens is bizarre. I'd say it even trumps the regulations that are largely post-Soviet legacy in countries like Ukraine, for example.
- cpursley 14y agoYep, this is what desperate empires do when they know it's the end of the line. The US has enacted a series of virtual Berlin walls. The only way to escape is to expatriate and relinquish citizenship at an American embassy. And to add insult to injury, the US Government takes 45% of all your assets over $2.5 million if you take this route (not that I have that problem). And this is already after-tax income, mind you. It's quite sad, really.
- kintamanimatt 14y agoI don't think it's as high as 45%, or at least I can't find something to corroborate that.
- cpursley 14y agoPretty close. http://online.wsj.com/article/SB10001424052702303879604577410021186373802.html http://online.wsj.com/article/SB1000142405270230387960457741...