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FATCA & CRS FormsOCBC Business Banking SG

FATCA & CRS FormsOCBC Business Banking SG

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Good Afternoon and welcome to the United States Treasury Department November FATCA Q&A session for every non US bank in the world and every non-US country in the world in honor of Obama's open government initiative we're going to be taking questions today in instant message format So! To kick it off what is FATCA? well, basically we don't like the way that you have been handling taxes for American citizens in all of your countries, so we're gonna put the United States Internal Revenue Service in charge . . . if your bank's choose not to cooperate with us we're going to impose a 30 percent withholding tax on any activities undertaken by that bank and any of that bank's customers whether they're American citizens or not 15 F***ing aircraft carriers that's how! You're living in our world B*** get used to it! Oh Sure! It's just withholding, it's a lot like US income tax withholding except you don't get any services in return and there are no refunds... its easy all you have to do is just

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