Go Away American Millionaires
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Go Away American Millionaires
By Sanat Vallikappen
That’s what some of the world’s largest wealth-management firms are saying ahead of Washington’s implementation of the Foreign Account Tax Compliance Act , known as Fatca, which seeks to prevent tax evasion by Americans with offshore accounts.HSBC Holdings Plc (HSBA) , Deutsche Bank AG, Bank of Singapore Ltd. and DBS Group Holdings Ltd. (DBS) all say they have turned away business.
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