USA pressured others to implement FATCA. Yet, USA didn't join CRS and doesn't report (as much) to other countries.
It's been said that USA does that since they can afford it due to economical and military power. Few countries would dare to employ sanctions against USA. Ok, got it. Furthermore it's been said that USA is or wants to be a tax haven for not-US persons for tax purposes. That one I am not sure about.
On the other hand, banks, EMIs and crypto exchanges are similarly annoying about compliance than other countries. That they keep checking for violent stuff, drugs connections, OK I get it, they wouldn't want that since these things could harm USA too but tax evasion? For example, they ask for a TIN for foreigners residing in third world vassal countries which would never be a threat for USA or dare to speak up. Why would they care about not-US persons wanting to stash money in USA if it was taxed? Did the US government forget them to send the memo to go easy on that so money can flow to and stay inside US?
I don't understand the overall USA global tax strategy. They want "global tax justice"? I hope not but then they would join CRS and similar international tax information sharing agreements. They want to be a tax haven for non-US persons for tax purposes? Then regulation or pressure on financial institutes should be lax as soon as it's a bout a customer that doesn't have any US tax liability. Other explanations? Incompetence or uncaring?
It's been said that USA does that since they can afford it due to economical and military power. Few countries would dare to employ sanctions against USA. Ok, got it. Furthermore it's been said that USA is or wants to be a tax haven for not-US persons for tax purposes. That one I am not sure about.
On the other hand, banks, EMIs and crypto exchanges are similarly annoying about compliance than other countries. That they keep checking for violent stuff, drugs connections, OK I get it, they wouldn't want that since these things could harm USA too but tax evasion? For example, they ask for a TIN for foreigners residing in third world vassal countries which would never be a threat for USA or dare to speak up. Why would they care about not-US persons wanting to stash money in USA if it was taxed? Did the US government forget them to send the memo to go easy on that so money can flow to and stay inside US?
I don't understand the overall USA global tax strategy. They want "global tax justice"? I hope not but then they would join CRS and similar international tax information sharing agreements. They want to be a tax haven for non-US persons for tax purposes? Then regulation or pressure on financial institutes should be lax as soon as it's a bout a customer that doesn't have any US tax liability. Other explanations? Incompetence or uncaring?
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