05-12-2005, 12:19 PM
This has been on the cards for a while....simply put, tax havens now cease to exist.
Banks have two options......
One notify the country of the account holders permanent address what interest has been paid...
Or withhold account details but deduct tax and fork it over.
All EU countries must comply and many other countries are going to anyway.
If you are an account holder you will have already been informed of the bank you have your account with and notified which process they intend to follow.
The onus to be honest or not no longer rests with you, the banks are obliged to disclose!
Banks have two options......
One notify the country of the account holders permanent address what interest has been paid...
Or withhold account details but deduct tax and fork it over.
All EU countries must comply and many other countries are going to anyway.
If you are an account holder you will have already been informed of the bank you have your account with and notified which process they intend to follow.
The onus to be honest or not no longer rests with you, the banks are obliged to disclose!
SPAM in a can....Now available in regular, turkey, Lite and HOT