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Hue Mi
05-11-2014, 12:57 AM
Iraq in within the Convention «deadly FATCA» (http://www.alsabaah.iq/ArticleShow.aspx?ID=70640)

11/5/2014 12: 00 am
Baghdad – Mustafa Hashmi

Economist Dr. Mohammad Saleh appearance: that Iraq into the "alvatka" (new tax compliance Act) for citizens of the US nationals in all the world and passed by Congress in 2010.

"Alvatka", short for Foreign Account Tax Compliance Act as measures limiting the escape of American citizens to pay taxes to the Government, has been working recently on 30 and in the world.

Saleh said in a statement to (morning) that work with this agreement gives immunity to both Iraq and the United States in the area of taxes and follow the movement of funds to increase transparency in the exchange of information between the two sides.

Pointing out that the banks operating in Iraq covered by the Convention "alvatka" for reducing tax evasion when entering Iraq at the Convention.

He said if the US citizen, for example, payment of the premium or cost apartment in cash, was the subject of the selling company as registered receipt cash this amount was a high-value, a buyer cannot buy it, will face two charges of buyer, as he had other income and hide it to the IRS, or have income or in the process of money laundering.

Some States have decided to make a deal with the IRS, US banks directly, making financial institutions are subject to "alvatka", on pain of penalties will be taken by the United States against States that banks do not disclose accounts for Americans to deduct 30 percent of their accounts in u.s. banks, and the prevention of the handle.

The academic said Dr Issam almhaoili in the economic statement to (morning): United States tax high and costly as well as higher wages for workers there, making some of them looking for validation projects profits in countries where taxes are paid less and the cost of labour is low.

He said this Agreement serves us very much for some banking facilities offered by the United States to the States parties to the Convention.

Said international trade adviser Tawfiq-Mana (morning): the development of the banking system and make it global regulations so that refineries Iraq to benefit from this agreement. He recalled that the Convention gives Member States the legal cover of the freedom of action of the banks granted facilities to the banking business.

triumphantcorp
05-12-2014, 12:42 AM
Iraq in within the Convention «deadly FATCA» (http://www.alsabaah.iq/ArticleShow.aspx?ID=70640)

11/5/2014 12: 00 am
Baghdad – Mustafa Hashmi

Economist Dr. Mohammad Saleh appearance: that Iraq into the "alvatka" (new tax compliance Act) for citizens of the US nationals in all the world and passed by Congress in 2010.

"Alvatka", short for Foreign Account Tax Compliance Act as measures limiting the escape of American citizens to pay taxes to the Government, has been working recently on 30 and in the world.

Saleh said in a statement to (morning) that work with this agreement gives immunity to both Iraq and the United States in the area of taxes and follow the movement of funds to increase transparency in the exchange of information between the two sides.

Pointing out that the banks operating in Iraq covered by the Convention "alvatka" for reducing tax evasion when entering Iraq at the Convention.

He said if the US citizen, for example, payment of the premium or cost apartment in cash, was the subject of the selling company as registered receipt cash this amount was a high-value, a buyer cannot buy it, will face two charges of buyer, as he had other income and hide it to the IRS, or have income or in the process of money laundering.

Some States have decided to make a deal with the IRS, US banks directly, making financial institutions are subject to "alvatka", on pain of penalties will be taken by the United States against States that banks do not disclose accounts for Americans to deduct 30 percent of their accounts in u.s. banks, and the prevention of the handle.

The academic said Dr Issam almhaoili in the economic statement to (morning): United States tax high and costly as well as higher wages for workers there, making some of them looking for validation projects profits in countries where taxes are paid less and the cost of labour is low.

He said this Agreement serves us very much for some banking facilities offered by the United States to the States parties to the Convention.

Said international trade adviser Tawfiq-Mana (morning): the development of the banking system and make it global regulations so that refineries Iraq to benefit from this agreement. He recalled that the Convention gives Member States the legal cover of the freedom of action of the banks granted facilities to the banking business.

IRS doesn't want to miss ONE Penny of your money.