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Message 1591004 - Posted: 23 Oct 2014, 22:32:54 UTC
Last modified: 23 Oct 2014, 22:34:23 UTC

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Message 1591006 - Posted: 23 Oct 2014, 22:36:22 UTC - in response to Message 1591004.  
Last modified: 23 Oct 2014, 22:37:19 UTC

http://www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-FATCA


What about it, Janneseti? Which aspect of it do you have an issue with? I have quite a number of issues with it, but it is kinda old news around here.

edit: ahh, your edit... LOL, it does, doesn't it.
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Message 1591012 - Posted: 23 Oct 2014, 22:46:02 UTC - in response to Message 1591006.  
Last modified: 23 Oct 2014, 22:51:12 UTC

[quote]http://www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-FATCA
What about it, Janneseti? Which aspect of it do you have an issue with? I have quite a number of issues with it, but it is kinda old news around here.

To be treated as a criminal for one.
And its news to Scandinavia!
I may be stupid but US laws dont apply here!
Margot our new FM agree to this!
http://www.pwc.se/sv/bank-kapital/publikationer/fatca-en-amerikansk-lag-med-stor-paverkan-for-finansiella-bolag-varlden-over.jhtml
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Message 1591024 - Posted: 23 Oct 2014, 22:59:57 UTC - in response to Message 1591012.  

[quote]http://www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-FATCA
What about it, Janneseti? Which aspect of it do you have an issue with? I have quite a number of issues with it, but it is kinda old news around here.

To be treated as a criminal for one.
And its news to Scandinavia!
I may be stupid but US laws dont apply here!
Margot our new FM agree to this!
http://www.pwc.se/sv/bank-kapital/publikationer/fatca-en-amerikansk-lag-med-stor-paverkan-for-finansiella-bolag-varlden-over.jhtml


Well, quite a number of US citizens have money invested outside the USA. The US Government feels that they should pay taxes on it.

Me personally, I feel that if I have money invested in, for example, Sweden, that it should be subject to taxes in Sweden. But it should NOT be subject to taxes in the USA unless and until I move the money back to the USA.

As I said, I have huge issues with this law. I do feel it is an attempt to violate the National Sovereignty of other nations. It is bad and needs to be repealed.
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Message 1591033 - Posted: 23 Oct 2014, 23:13:19 UTC - in response to Message 1591024.  

[quote]http://www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-FATCA
What about it, Janneseti? Which aspect of it do you have an issue with? I have quite a number of issues with it, but it is kinda old news around here.

To be treated as a criminal for one.
And its news to Scandinavia!
I may be stupid but US laws dont apply here!
Margot our new FM agree to this!
http://www.pwc.se/sv/bank-kapital/publikationer/fatca-en-amerikansk-lag-med-stor-paverkan-for-finansiella-bolag-varlden-over.jhtml


Well, quite a number of US citizens have money invested outside the USA. The US Government feels that they should pay taxes on it.

Me personally, I feel that if I have money invested in, for example, Sweden, that it should be subject to taxes in Sweden. But it should NOT be subject to taxes in the USA unless and until I move the money back to the USA.

As I said, I have huge issues with this law. I do feel it is an attempt to violate the National Sovereignty of other nations. It is bad and needs to be repealed.

I suspect you have issues with money laundering laws as well, of which this is just a specific tax related form. I'm not too keen on them either.
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Message 1591037 - Posted: 23 Oct 2014, 23:18:35 UTC - in response to Message 1591024.  
Last modified: 23 Oct 2014, 23:21:02 UTC

[quote]http://www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-FATCA
What about it, Janneseti? Which aspect of it do you have an issue with? I have quite a number of issues with it, but it is kinda old news around here.

To be treated as a criminal for one.
And its news to Scandinavia!
I may be stupid but US laws dont apply here!
Margot our new FM agree to this!
http://www.pwc.se/sv/bank-kapital/publikationer/fatca-en-amerikansk-lag-med-stor-paverkan-for-finansiella-bolag-varlden-over.jhtml

Well, quite a number of US citizens have money invested outside the USA. The US Government feels that they should pay taxes on it.
Me personally, I feel that if I have money invested in, for example, Sweden, that it should be subject to taxes in Sweden. But it should NOT be subject to taxes in the USA unless and until I move the money back to the USA.
As I said, I have huge issues with this law. I do feel it is an attempt to violate the National Sovereignty of other nations. It is bad and needs to be repealed.

I have no problem with paying taxes in a country I have invested in.
Its when the tax goverments demands me to declare the sum the country want me to pay I get angry.
No one call tell me what the sum is!
Yesterday I called the Swedish taxman and asked what the English taxman is called so I could contact them.
She said IRS;) Silly answer.
Anyway i googled and after about 10 seconds I got the answer.
HMRC which stands for Her Majesty Revenue and Customs.
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Message 1591099 - Posted: 24 Oct 2014, 1:18:25 UTC
Last modified: 24 Oct 2014, 1:46:11 UTC

"FATCA comes into force by 1 January 2014 - time becomes a critical factor. We show you how you can prepare your organization for the challenges of the regulatory framework in a pragmatic and effective way. "
http://www.pwc.se/sv/radgivning/foreign-account-tax-compliance-act-fatca.jhtml
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Message 1593399 - Posted: 28 Oct 2014, 9:06:10 UTC

Jannesti, forget dealing with HMRC, use an accountant. The HMRC are underpaid simpletons who cannot get a job elsewhere. They lose tax records like whores lose underwear, they could not find a tax evader sat in their offices and overall they are failed communist unionised idiots who are not worth the air they breath.
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Message 1593486 - Posted: 28 Oct 2014, 11:56:50 UTC - in response to Message 1593399.  

Jannesti, forget dealing with HMRC, use an accountant. The HMRC are underpaid simpletons who cannot get a job elsewhere. They lose tax records like whores lose underwear, they could not find a tax evader sat in their offices and overall they are failed communist unionised idiots who are not worth the air they breath.

Maybe you are right.
At least I Think HMRC or Swedish Skatteverket could give me this answer.
http://www.tradingeconomics.com/bonds
If revenue services cant read or do math...
But dont they have computers to do all this?
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Message 1593604 - Posted: 29 Oct 2014, 0:38:05 UTC

What is the question though?
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Message 1593605 - Posted: 29 Oct 2014, 0:42:15 UTC - in response to Message 1593604.  

What is the question though?

Do whores wear underwear?
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Message 1593606 - Posted: 29 Oct 2014, 0:43:54 UTC - in response to Message 1593604.  

What is the question though?

I think he is upset that is you do business with the USA you have to follow their rules.
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Message 1593607 - Posted: 29 Oct 2014, 0:46:35 UTC - in response to Message 1593606.  

What is the question though?

I think he is upset that is you do business with the USA you have to follow their rules.

Can you blame him? The rules of the US should stay where they are - in the US, & not in other countries.
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Message 1593611 - Posted: 29 Oct 2014, 0:55:10 UTC - in response to Message 1593604.  

What is the question though?

What do I pay in UK in tax?
Is it 10 euro, 100 euro or is it 1000 euro.
I dont know. No Revenue service does.
Oldmutual Welth who manages my investment does not know.
They said it is so complicated to calculate it...
Now I how to figure it out my self.
Otherwise I'm a tax evador!
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Message 1593613 - Posted: 29 Oct 2014, 0:56:41 UTC - in response to Message 1593606.  
Last modified: 29 Oct 2014, 1:19:52 UTC

What is the question though?

I think he is upset that is you do business with the USA you have to follow their rules.

I dont do business with USA.
It is UK!
And I am living in Sweden.
Not USA!

Wonder if US can tell what government borrowing percentage is in US.
In Sweden it's now 0%. Yes zero percent.
http://www.dn.se/ekonomi/riksbankens-nya-ranta-0-procent/
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Message 1593632 - Posted: 29 Oct 2014, 1:42:22 UTC - in response to Message 1593613.  
Last modified: 29 Oct 2014, 1:51:37 UTC

What is the question though?

I think he is upset that is you do business with the USA you have to follow their rules.

I dont do business with USA.
It is UK!
And I am living in Sweden.
Not USA!

Wonder if US can tell what government borrowing percentage is in US.
In Sweden it's now 0%. Yes zero percent.
http://www.dn.se/ekonomi/riksbankens-nya-ranta-0-procent/


Well, if you do not do business with the USA, then why did you start the thread with a link to the USA's Internal Revenue Service (our Federal Tax service)?

To answer your question, as far as I can tell, that website you quoted about '0%' was about the rate that the Central Bank in Sweden charges other banks in Sweden to loan them money.

In the USA, the equivalent would be the Federal Discount Rate. It is currently, and has been for a year, at three quarters of one percent... 0.75%
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Message 1593652 - Posted: 29 Oct 2014, 3:00:35 UTC - in response to Message 1593632.  
Last modified: 29 Oct 2014, 3:31:58 UTC

What is the question though?

I think he is upset that is you do business with the USA you have to follow their rules.

I dont do business with USA.
It is UK!
And I am living in Sweden.
Not USA!
Wonder if US can tell what government borrowing percentage is in US.
In Sweden it's now 0%. Yes zero percent.
http://www.dn.se/ekonomi/riksbankens-nya-ranta-0-procent/

Well, if you do not do business with the USA, then why did you start the thread with a link to the USA's Internal Revenue Service (our Federal Tax service)?
To answer your question, as far as I can tell, that website you quoted about '0%' was about the rate that the Central Bank in Sweden charges other banks in Sweden to loan them money.
In the USA, the equivalent would be the Federal Discount Rate. It is currently, and has been for a year, at three quarters of one percent... 0.75%

I started the thread because US now want all companies in the world to deal with US tax evadors.
Companies worldwide are increasingly affected by US regulations even though they do not have operations in the US market. One of the more far-reaching regulations that became final in the US Foreign Account Tax Compliance Act, or FATCA.
https://translate.google.se/translate?sl=sv&tl=en&js=y&prev=_t&hl=sv&ie=UTF-8&u=http%3A%2F%2Fwww.pwc.se%2Fsv%2Fbank-kapital%2Fpublikationer%2Ffatca-en-amerikansk-lag-med-stor-paverkan-for-finansiella-bolag-varlden-over.jhtml&edit-text=
WHY?

According to this US Federal Discount Rate (Government Bond) is 2.25%
http://www.tradingeconomics.com/united-states/indicators
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Message 1593706 - Posted: 29 Oct 2014, 6:18:35 UTC - in response to Message 1593652.  

What is the question though?

I think he is upset that is you do business with the USA you have to follow their rules.

I dont do business with USA.
It is UK!
And I am living in Sweden.
Not USA!
Wonder if US can tell what government borrowing percentage is in US.
In Sweden it's now 0%. Yes zero percent.
http://www.dn.se/ekonomi/riksbankens-nya-ranta-0-procent/

Well, if you do not do business with the USA, then why did you start the thread with a link to the USA's Internal Revenue Service (our Federal Tax service)?
To answer your question, as far as I can tell, that website you quoted about '0%' was about the rate that the Central Bank in Sweden charges other banks in Sweden to loan them money.
In the USA, the equivalent would be the Federal Discount Rate. It is currently, and has been for a year, at three quarters of one percent... 0.75%

I started the thread because US now want all companies in the world to deal with US tax evadors.
Companies worldwide are increasingly affected by US regulations even though they do not have operations in the US market. One of the more far-reaching regulations that became final in the US Foreign Account Tax Compliance Act, or FATCA.
https://translate.google.se/translate?sl=sv&tl=en&js=y&prev=_t&hl=sv&ie=UTF-8&u=http%3A%2F%2Fwww.pwc.se%2Fsv%2Fbank-kapital%2Fpublikationer%2Ffatca-en-amerikansk-lag-med-stor-paverkan-for-finansiella-bolag-varlden-over.jhtml&edit-text=
WHY?

According to this US Federal Discount Rate (Government Bond) is 2.25%
http://www.tradingeconomics.com/united-states/indicators

I take the NY Fed(eral reserve bank) as authoritative ...
http://www.newyorkfed.org/markets/omo/dmm/fedfundsdata.cfm

As to doing business with the USA, if you invest here, as all those companies you bitch about do, then the money that is invested in the USA is subject to USA rules. Just because the USA has imposed a crazy 30% tax rate with an option to have it zero if you fill out a bunch of reports, doesn't mean that anyone is being forced to do anything.

Well, actually it does. The dirty little secret is your banks and brokerage houses can't place all the money entrusted to them in your own stock and bond markets. They have to invest in US companies and trade in US securities. So they become subject to US law.
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Message 1593822 - Posted: 29 Oct 2014, 13:35:55 UTC - in response to Message 1593706.  

What is the question though?

I think he is upset that is you do business with the USA you have to follow their rules.

I dont do business with USA.
It is UK!
And I am living in Sweden.
Not USA!
Wonder if US can tell what government borrowing percentage is in US.
In Sweden it's now 0%. Yes zero percent.
http://www.dn.se/ekonomi/riksbankens-nya-ranta-0-procent/

Well, if you do not do business with the USA, then why did you start the thread with a link to the USA's Internal Revenue Service (our Federal Tax service)?
To answer your question, as far as I can tell, that website you quoted about '0%' was about the rate that the Central Bank in Sweden charges other banks in Sweden to loan them money.
In the USA, the equivalent would be the Federal Discount Rate. It is currently, and has been for a year, at three quarters of one percent... 0.75%

I started the thread because US now want all companies in the world to deal with US tax evadors.
Companies worldwide are increasingly affected by US regulations even though they do not have operations in the US market. One of the more far-reaching regulations that became final in the US Foreign Account Tax Compliance Act, or FATCA.
https://translate.google.se/translate?sl=sv&tl=en&js=y&prev=_t&hl=sv&ie=UTF-8&u=http%3A%2F%2Fwww.pwc.se%2Fsv%2Fbank-kapital%2Fpublikationer%2Ffatca-en-amerikansk-lag-med-stor-paverkan-for-finansiella-bolag-varlden-over.jhtml&edit-text=
WHY?

According to this US Federal Discount Rate (Government Bond) is 2.25%
http://www.tradingeconomics.com/united-states/indicators

I take the NY Fed(eral reserve bank) as authoritative ...
http://www.newyorkfed.org/markets/omo/dmm/fedfundsdata.cfm

As to doing business with the USA, if you invest here, as all those companies you bitch about do, then the money that is invested in the USA is subject to USA rules. Just because the USA has imposed a crazy 30% tax rate with an option to have it zero if you fill out a bunch of reports, doesn't mean that anyone is being forced to do anything.

Well, actually it does. The dirty little secret is your banks and brokerage houses can't place all the money entrusted to them in your own stock and bond markets. They have to invest in US companies and trade in US securities. So they become subject to US law.


Gary, the link Janneseti posted, that I responded to, translated to English using Google Translate:


https://translate.google.com/translate?sl=sv&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.dn.se%2Fekonomi%2Friksbankens-nya-ranta-0-procent%2F&edit-text=

States that:
"The Executive Board cut its repo rate by 0.25 percentage points to zero percent and revises repo rate down significantly ./.../ Only in mid-2016, it is considered appropriate to slowly start raising interest rates," the Riksbank announced on Tuesday.


The 'repo rate' is defined as follows:

http://economictimes.indiatimes.com/definition/repo-rate

Repo rate is the rate at which the central bank of a country (RBI in case of India) lends money to commercial banks in the event of any shortfall of funds.


Now then, the Federal Reserve Bank of New York link that you provided is on the Federal Funds rate, which is

the interest rate at which depository institutions lend balances to each other overnight


Shows as 0.09% for 10/28/2014.

This is NOT the equivalent rate to what Janneseti posted.

The equivalent rate to what Janneseti posted is the 'Primary Credit Rate' which is usually referred to as the 'Discount Rate', which is

Primary Credit Rate: 0.75%

Primary credit is available to generally sound depository institutions on a very short-term basis as a backup rather than a regular source of funding. Depository institutions are not required to seek alternative sources of funds before requesting advances of primary credit.


Using your authorative source, the New York Fed, that would be here:

http://www.newyorkfed.org/banking/discountwindow.html

@Janneseti,

It seems that you are confusing a few things as well. According to your link:


http://www.tradingeconomics.com/united-states/indicators

Government Bond 10Y 2.28 2.50 6.37 Percent 2014-10-28 Daily


That is the 10 year Bond rate, which is the interest rate which the US Government pays investors to loan IT (the US Federal Government) money. It has nothing to do with the Discount Rate (the interest rate the US Federal Reserve Bank charges regular banks in the USA to loan money to them) or to Gary's quoted Federal Funds rate (which is the rate that regular banks in the USA charges other regular banks in the USA to loan THEM money).

Yes, all this can, at times, get a little confusing, but then it is not exactly Rocket Science.

And Gary is correct in his answer to you:

As to doing business with the USA, if you invest here, as all those companies you bitch about do, then the money that is invested in the USA is subject to USA rules. Just because the USA has imposed a crazy 30% tax rate with an option to have it zero if you fill out a bunch of reports, doesn't mean that anyone is being forced to do anything.

Well, actually it does. The dirty little secret is your banks and brokerage houses can't place all the money entrusted to them in your own stock and bond markets. They have to invest in US companies and trade in US securities. So they become subject to US law.
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Message 1593829 - Posted: 29 Oct 2014, 13:59:49 UTC - in response to Message 1593822.  

http://en.wikipedia.org/wiki/Discount_window
The interest rate charged on such loans by a central bank is called the discount rate, base rate, or repo rate, and is separate and distinct from the prime rate. It is also not the same thing as the federal funds rate and its equivalents in other currencies, which determine the rate at which banks lend money to each other. In recent years, the discount rate has been approximately a percentage point above the federal funds rate (see Lombard credit). Because of this, it is a relatively unimportant factor in the control of the money supply and is only taken advantage of at large volume during emergencies.


OBW that 0.09% fed funds rate, you will rarely find a bank paying you more than that rate on your checking account. They have to make money.
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