You are here
US pledges to work with Europe on tax evaders
Published:
Thursday, February 9, 2012
WASHINGTON—The United States and five European nations are pledging to crack down on global tax evaders. The Treasury Department said yesterday that the US government had signed a joint agreement with France, Germany, Italy, Spain and the United Kingdom to intensify their efforts to fight international tax evasion. Treasury also announced that the Internal Revenue Service is publishing proposed rules investors will have to follow in reporting on earnings from foreign bank accounts. The regulations were required under a 2010 law Congress passed aimed at cracking down on taxpayers using foreign accounts to avoid paying US taxes.
“When taxpayers overseas avoid paying what they owe, other Americans have to bear a disproportionate share of the tax burden,” said Emily S McMahon, Treasury’s acting assistant secretary for tax policy. The regulations establish tax reporting requirements for foreign banks that hold accounts for US taxpayers.
AP
Disclaimer
User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff. Guardian Media Limited accepts no liability and will not be held accountable for user comments.
Please help us keep out site clean from inappropriate comments by using the flag option.
Guardian Media Limited reserves the right to remove, to edit or to censor any comments. Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.
Before posting, please refer to the Comunity Standards, Terms and conditions and Privacy Policy
