NEW DELHI: India is likely to sign the inter-governmental pact for the US tax compliance law FATCA early next month, a government official said here today. “Indian government is likely to sign the Inter- Governmental Agreement (IGA) for Foreign Account Tax Compliance Act (FATCA) in early July 2015,” Akhilesh Ranjan, a Joint Secretary in the…
Did you know that people who live and work outside of the U.S. have the privilege to be excluded from federal income taxes that are paid by their employer for housing? In the same way, individuals of the same standing may exempt from taxes through the foreign-earned income exclusion. Q&A: Foreign Earned Income & Housing—Exclusions…
If you are an Indian living in the United States (US) either with a green card or an American passport you must know about FATCA. If you have either of the two and have undeclared property or wealth in India it is even more important that you understand how the Foreign Account Tax Compliance Act…
All citizens need to pay taxes to their government. Interestingly, some individuals think that by moving to a different country, they can avoid paying taxes. They couldn’t be more mistaken. Tips on Paying Your Taxes If You’re an American Expat was last modified: August 10th, 2015 by US International Tax Advisors
On 19 June 2015, the South African Revenue Service (SARS) issued a draft notice setting forth the incidences constituting non-compliance under the intergovernmental agreement (IGA) entered into with the US with respect to the US Foreign Account Tax Compliance Act (FATCA). Such incidences are subject to a fixed amount penalty in accordance with section 210(1)…
