Fatca vs.GATCA (OECD CRS): New global regulation on financial accounts

[nakes12]

Happy new year!(Welcome the year of the Gallo 2017

[esbreshesn]

Interesting topic.I asked about 10 Forex brokers if they had to report their clients' balances to the tax authorities and they all told me no.According to what I understand of the CRS, only the brokers that really invest their clients' funds are obliged to report.Do you agree with this?

[goraxrtunwzS]

If it serves as a reference, I also asked my broker in the United Kingdom if they reported fiscal information and said no.But of course, the problem is that sometimes support operators are not experts in regulations.I will continue to investigate to get a clearer answer.

[dCgaCwzju]

Does anyone have updates about this?I find it hard to believe that brokers are not yet obliged to report to the tax authorities of their countries.I am not going to trust what an operator of the Call Center says of a broker, because his work is to reassure customers, not give legal advice.

[cesstoxxesnes]

I think the US did not sign the CRS, so it does not report data automatically.Basically, the government wants to control your whole money, but if you lose, nobody gives you a tax credit.Wow justice!

[barxaSa]

This topic is a time bomb.People still do not understand that governments are looking for every penny they can track.If you think that because your broker says that "it does not report", you are sure, wait for a letter from the Tax Agency to get.

[NesSa91]

I do not understand the paranoia.If you pay your taxes correctly, what worries you?The CRS and Fatca only affect those who try to hide money abroad.

[riuzonoka]

The funniest thing is that the same governments that pursue tax evasion are those who malicate tax money.But of course, instead of better managing their resources, they prefer to squeeze citizens.

[naoSesy.N.o1989]

Many believe that opening an account in another country makes them invisible, but with these regulations, there are less and fewer places to hide money.The only real solution is to operate within the law and fiscally optimize your trading intelligently.

[crusaaxrtun]

If you have a trading account abroad, you should talk to an international taxation accountant.Don't wait for a broker to tell you if you should report or not.They are not responsible for your taxes, you do.

[jhorCtta1]

When fatca was approved, many said the banks would not collaborate.Now most report information without hesitation.The same will happen with CRS/Gatca.It is only a matter of time before all brokers begin to report.

[qiuSwz10]

People care a lot about these issues when their real problem is that they are not even profitable in trading.First he earns money consistently, and then worry about how to declare it.

[riuzonoka]

If you think you can hide your money from governments, you are cheating.Automatic information exchange is a reality and will only expand over time.

[NuSuTudos]

Why don't governments apply this level of control to large corporations that evade millions?Ah, of course, because these companies have legal and lobbies teams that protect them.Instead, traders are an easy target.

[jidutdaConoch]

If you have more than one account abroad, start reviewing how this affects your fiscal situation.Do not wait for a fine or an audit to reach you.Ignorance is no excuse for the authorities.

[jjnttses]

The CRS is basically fatca in steroids, but with global reach.Many traders still do not take it seriously, but when they begin to receive notices from their tax agencies, they will change their minds.

[zesTesches]

I think this issue is key to any trader with accounts outside your country.It is not only a matter of regulation, but to understand how this can affect the profitability of your operation in the long term.

[esbv12025]

The problem is that people want to avoid taxes, but without understanding how they really work.There are many legal ways of reducing taxes in trading.Evasion is not the only option.

[CakNy1]

This type of regulations only make money flow to more opaque jurisdictions.Governments never learn: when you pursue money too much, it simply moves elsewhere.

[ZuTu00]

Some traders continue to believe that they can operate "under the radar."Good luck with that.Today, if you have a bank or trading account abroad, you are already signed.