When It Comes To Banking, "Don't Ask Don't Tell" Is The Best Policy! – By Brian Mahany
Government tax authorities asking banks and credit card companies for information on foreign account holders is hardly news these days. The I.R.S. does it, so do Germany, Britain and many other countries. Officials want to know when their citizens transfer wealth overseas or open foreign accounts. Generally the practice is legal if the accounts and activity are disclosed. Australia, however, has taken their quest to root out unreported accounts to a new level.
Click here to read the rest of the article.....
|