The United States Treasury has finalised regulations to implement the Foreign Account Tax Compliance Act, designed to catch US tax cheats.
FATCA is one of the largest pieces of extra-territorial tax law to date, requiring all large global financial institutions to identify from within their accounts US taxpayers ...
New Zealand banks, insurers and fund managers will be required to hand over details about [ALL – that’s every single damned one of] their US clients and owners to the US Internal Revenue Service and US Treasury from January 2014.
If they do not, the banks could have 30% of income and sales proceeds from US assets withheld by the US government.
The Soviets thought they had equality, and welfare from cradle to grave, until the illusory free lunch of redistribution took its inevitable course, and cost them everything they had: first to go was their privacy and freedom, then on being ground down to an equality of poverty only, for many of them their lives as they tried to escape a life behind the Iron Curtain. In the common good, was found only slavery to the prison of each other's mind; instead of the caring state, they got the surveillance state to keep them in line. So why are we accumulating a national debt to build the slave state again in the West?
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