BASRA UNIVERSITY HOLDS A SEMINAR ON TAX COMPLIANCE BETWEEN LAW ENFORCEMENT AND BREACHING BANK SECRECY:
The College of Administration and Economics at the University of Basra organized a seminar on (Tax Compliance between Law Enforcement and Breaching of Banking Secrecy), delivered by Prof. Dr. (Ikhlas Baqir Hashem Al-Najjar), with the participation of the department's professors.
The seminar aims to shed light on the US FATCA law and its effects on non-compliant international financial institutions.
The panel discussion included introducing measures that make the US tax authority eliminate tax evasion, and according to the FATCA law, the US government requires banks and financial institutions to send information about Americans' accounts to the tax authority bypassing all procedures, laws and everything related to the confidentiality of bank accounts.
The researcher called for the need for international financial institutions to deal similarly with the American FATCA law in order to benefit from the capital of the Arab community in the United States of America.
