How do you keep anonymity with the Common Reporting Standard

[DrMartin]

There is a global truth-or-dare reporting system now with almost 100 countries signed on to the global tax information exchange system which automatically shares data between countries and erodes anonymity.

The tax reporting is not a problem but the undermining of our client's anonymity is. Is there a way to beat this?

 

[dotbloup]

I guess you talk about the OECD reporting system.
It is applied to banks who have to share some data about their customers. It is not possible to escape the system for private bank account. Corporate bank account under 250,000 USD aren't reported.
Also, they don't pass all the information. The fields that are reported are always the same. Then, in order to get more information, a justice case would be needed and it rarely happens.

I suggest you take a look at my thread.
stopping paranoia of being caught by a country

 

[DrMartin]

thanks for the info dotbloup

 

[negon]

According to the OECD report it seems in deed that there is a triviality for the amount on an account before they will report. This means for the vast majority it doesn't matter with TIEAS only problem still remains is FATCA for US citizens.

 

[nailparasite]

This is the best news I have read for long time here.. that mean for a guy doing only say 3000 euro / month I don't have to worry right?

 

[zahin]

dotbloup said:
I guess you talk about the OECD reporting system.
It is applied to banks who have to share some data about their customers. It is not possible to escape the system for private bank account. Corporate bank account under 250,000 USD aren't reported.
Also, they don't pass all the information. The fields that are reported are always the same. Then, in order to get more information, a justice case would be needed and it rarely happens.

I suggest you take a look at my thread.
stopping paranoia of being caught by a country
Click to expand...

Really good to read.. thank you for shareing.

 

[redeye]

dotbloup said:
I guess you talk about the OECD reporting system.
It is applied to banks who have to share some data about their customers. It is not possible to escape the system for private bank account. Corporate bank account under 250,000 USD aren't reported.
Also, they don't pass all the information. The fields that are reported are always the same. Then, in order to get more information, a justice case would be needed and it rarely happens.

I suggest you take a look at my thread.
stopping paranoia of being caught by a country
Click to expand...

Please ALL read this... it's awesome and new information compared to all the s**t I have been reading around on this forum and some of the other major forums around.

Toggle signature
Only the early bird catches the worm.

 

[aurlux]

As to the 250,000usd limit, it's applicable only to the companies made before the bank's country signed the contract, or so I have read.

 

[negon]

No, if I read it correct, this applies after the reporting takes place.

 

[negon]

It may be a good idea to get this information from an Tax Lawyer, just as an general question so no one has to pay a fortune for this information.

 

[DeMajor]

From what I read it's all about to plan, structure & take precocious Cyprus Bank Account - Read to learn how they can protect your privacy!

 

[JohnSeed]

dotbloup said:
I guess you talk about the OECD reporting system.
It is applied to banks who have to share some data about their customers. It is not possible to escape the system for private bank account. Corporate bank account under 250,000 USD aren't reported.
Also, they don't pass all the information. The fields that are reported are always the same. Then, in order to get more information, a justice case would be needed and it rarely happens.

I suggest you take a look at my thread.
stopping paranoia of being caught by a country
Click to expand...

Thanks for the share. Where exactly do you see the 250k threshold? I can't find it hope you can point me to it.

 

[brutalzorn]

dotbloup said:
I guess you talk about the OECD reporting system.
It is applied to banks who have to share some data about their customers. It is not possible to escape the system for private bank account. Corporate bank account under 250,000 USD aren't reported.
Also, they don't pass all the information. The fields that are reported are always the same. Then, in order to get more information, a justice case would be needed and it rarely happens.

I suggest you take a look at my thread.
stopping paranoia of being caught by a country
Click to expand...

This is a great thread. I don't believe it is possible with real offshore bank account. Only with digital Financial banking services!