FATCA and the Taiwan post office

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FATCA and the Taiwan post office

Postby Zla'od » 12 May 2012, 07:51

Apparently banks throughout the world are being pressured, under the Foreign Account Tax Compliance Act, to report the accounts of U.S. citizens to the IRS, and in certain cases, withhold monies from them. I am curious as to how this will apply to Taiwan's post office, which provides low-level banking services. Does anybody know?
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Re: FATCA and the Taiwan post office

Postby JeffG » 05 Jan 2013, 22:03

That's a great question that I would love to have an answer to also.

In the meantime there is a petition just created here: https://petitions.whitehouse.gov/petition/change-us-tax-law-citizenship-based-law-residence-based-law/b6v4xfpV to try to get the goverment to tax via residence based rather than citizen based. Please spread this as they have to get 25,000 signatures to even hope for a response from the government.
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ATTN: American Citizens living in Taiwan, please support American Citizens Abroad - ACA http://www.americansabroad.org/

Americans living in Taiwan CALL your senators and representatives and ask them to repeal FATCA and support residency based taxation (RBT) for Americans living abroad! Writing a letter is useless! FATCA has been implemented and banks will be collecting your information here. In addition renunciation fees are now $2350! Insane!

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