** People rescuing an injured passenger from inside a passenger bus hit by a truck on Dhaka-Mawa Expressway in Shologhar area of Shreenagar upazila in Munshiganj on Thursday. ** Motorcycles allowed on Padma Bridge after 10 months ** Commuters charge extra fare, passengers disappointed ** 78 people killed in Yemen stampede ** Moon sighting committee meets today to ascertain Eid day ** 9 killed in road accidents in 3 districts ** US announces new $325 m military aid package for Ukraine ** Eid-ul-Fitr in Saudi Arabia today ** Eid exodus begins ** LPG price cut illusive ** 15 hurt as bus overturns in capital ** New interbank cheque clearing timings set for Eid holidays ** Four women hit by a train die in Tangail ** 12.28 lakh SIM users left Dhaka on Tuesday ** Sylhet engineer threatened over power outage ** People rush to village homes to spend Eid holidays with their near and dear ones. This photo was taken from Sadarghat Launch Terminal on Tuesday. NN photo ** Surge in cases of dehydration, diarrhoea amid summer heat wave ** Padma Bridge construction cost increases by Tk 2,412cr ** PM gives Tk 90m to Bangabazar fire victims ** Textile workers block highway demanding wage, Eid bonus ** Attack on PM's motorcade Ex-BNP MP, 3 others get life term ** Load-shedding increases for demand of electricity during heat wave ** Motorbikes to be allowed on Padma bridge from Thursday ** 5-day Eid vacation begins from today ** Take Nangalkot train accident as a warning about negligence of govt functionaries **

Canada, Hungary sign US anti-tax evasion pacts

07 February 2014 AFP, Washington

The United States signed anti- tax fraud pacts with Canada and Hungary this week, expanding its drive to combat offshore tax evasion, the Treasury Department said Wednesday.
The Treasury also said it had earlier signed agreements with Italy and Mauritius, bringing to 22 the total number of pacts to implement the Foreign Account Tax Compliance Act (FATCA).
The 2010 law requires foreign banks and other financial institutions to report information about accounts held by US taxpayers to the US tax agency, the
The law also applies to foreign companies that are substantially owned by US taxpayers.
Under FATCA, US financial institutions must withhold a portion of certain payments made to foreign financial institutions that do not agree to identify and report information on US account holders.
Robert Stack, the Treasury's deputy assistant secretary for international tax affairs, said the act was crucial to fighting international tax evasion and promoting transparency.
"The agreements announced today clearly demonstrate the considerable international support behind FATCA and we are proud to lead the global charge on this pressing issue," Stack said.
Britain, France, Germany and Switzerland, as well as tax havens such as British territories Jersey, Guernsey and the Isle of Man, are among the 22 who have entered reporting agreements with the United States.
The Treasury said it has agreements for a dozen more pacts that have not yet been signed.

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