Russia creating advanced amphibious ship for ArcticMilitary & Defense June 29, 9:49
Russia may reduce presence on EU energy markets in next 20 yearsBusiness & Economy June 29, 8:48
Top military brass baffled by UK defense chief’s remarks about Russian warshipRussian Politics & Diplomacy June 29, 8:20
FIFA president lauds Confederations Cup semi-final match as incredibleSport June 29, 7:38
Chile edges Portugal with 3-0 penalty shootout win for 2017 FIFA Confederations Cup finalSport June 29, 1:38
Telegram included in register of Internet information distributorsBusiness & Economy June 28, 20:56
Putin points to growing activities of foreign secret services against RussiaRussian Politics & Diplomacy June 28, 20:36
FIFA chief Infantino to attend Chile-Portugal 2017 Confederations Cup semis match in KazanSport June 28, 20:27
Lavrov expects US to refrain from creating pretexts for new attacks on SyriaRussian Politics & Diplomacy June 28, 20:09
MOSCOW, July 17 (Itar-Tass) - Russia does not intend to change its plans on signing an agreement with the United States to join FATCA (Foreign Account Tax Compliance Act), Finance Minister Anton Siluanov told journalists on the sidelines of a conference organized by Vnesheconombank.
“The term is not principled. We’re planning to complete the talks till the end of the year,” Siluanov said.
According to earlier reports, American legislators postponed the start of FATCA withholding until January 1, 2014.
FATCA is the legislation written in order to specifically address the avoidance of tax by US persons through foreign financial institutions. The purpose of FATCA is, therefore, to ensure that the IRS can identify and collect the appropriate tax from US persons holding financial assets outside the US. FATCA legislation potentially applies to any company or entity with US clients or assets that could generate U.S. source income.
The fact that Russia is holding talks with the United States to join FATCA was announced by the finance minister in May. He stressed the need to intensify the exchange of information in this aspect. “This should be done long ago,” Siluanov explained.