RIYADH: The introduction of Foreign Accounts Tax Compliance Act (FATCA) in the Kingdom will have an impact on more than 200,000 US citizens living in Saudi Arabia. “The act will come into force when a government-to-government agreement is signed shortly between the Kingdom and the United States,” Rupert Agius-Pease, head of tax and legal services…
The tax amnesty program is an approved limited-time program by the IRS. It aims to encourage businesses and individual taxpayers with delinquent tax obligations to come forward voluntarily. This, of course, comes with certain benefits, including abatement of penalties and interests. What You Need to Know about the Tax Amnesty Program was last modified: August…
The Foreign Account Tax Compliance Act (FATCA) – which became law in 2010 – just recently came into full effect. The results are frustrating for Americans living abroad as they struggle to find foreign banks willing to serve them. Stu Haugen, an American who lives overseas, recently wrote in the New York Times: Read the…