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USA overseas tax collection on Chinese immigration impact?

Author:tongran      Time:2015/2/11      Hits:1028

Recently, USA Ministry of Finance and national tax bureau jointly issued the "offshore accounts tax bill" the revised terms, this is the ultimate implementation of "offshore accounts tax bill" "the last step".
Treasury Secretary Jakob Lu said in a statement "offshore tax evasion, hit American tax system confidence, take necessary protection revenue American citizens". He said the United States "bill" overseas accounts tax raised the upsurge of overseas tax collection in nations around the world, the United States will continue with its international partners to fight in similar illegal activities, improve the global tax cooperation.
The United States launched the "offshore accounts tax bill" the main purpose is to attack the United States citizens and green card holders offshore tax evasion, the bill passed in 2010. The provisions of the bill, America citizens who meet the conditions and America green card holders, up to $50000 or more, the deposits in foreign banks business assets of more than $250000 in insurance policy to USA irs.
Since 2014, foreign financial institutions must provide American citizens, green card holders to America IRS, or three years of accumulated contacts USA more than more than 183 days USA tax resident overseas account information, or they will be punished a fine of the American income in 30%. Customer bank of the United States if there is transfer to overseas financial institutions, if banks cannot obtain customer in accordance with the "offshore accounts tax bill" to provide the required information, financial transfer amount of customers will be pre buckle 30%.
According to the regulations, the old account balance testing period to foreign financial institutions for the June 30, 2014; $1000000 above the old account balance review date for July 1, 2015; 5 to 1000000 yuan balance account review date for July 1, 2016; the new account review for July 1, 2014; foreign financial institutions account to declare for the March 31, 2015.
In order to prevent the international tax evasion, the United States and a number of foreign financial institutions signed the agreement, but still attracted a number of foreign governments, financial institutions and American citizens overseas and green card holders complaints, some foreign banks and even so the American businessman shut the door. Many overseas work and life of the Americans or green card holders for the bill on the high requirement of tax, tax and even give up U. s.citizenship or green card decision.
Aiming at this problem, American finance ministry official said, USA citizens or green card holders to give up citizenship or green card has many consider and reason, direct contact with this case increased in recent years and "offshore accounts tax bill" No.

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