FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA) AND AGREEMENT WITH ROMANIA – A STEP IN THE FIGHT AGAINST INTERNATIONAL TAX EVASION

Nadia-Cerasela Anitei () and Roxana-Elena Lazar
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Nadia-Cerasela Anitei: PhD University Professor, Faculty of Legal, Social and Political Sciences, Dunarea de Jos University, Galati, Romania
Roxana-Elena Lazar: PhD Associate Prof., Faculty of Law, Petre Andrei University Iasi, Romania

Jurnalul de Studii Juridice, 2014, vol. 1-2, 13-20

Abstract: The study of the international tax evasion reveals a practice of setting up fictitious entities, whose purpose is to provide large amounts of money through fraud. They perform by means of dissimulative maneuvers and operational skills important profits while producing at the same time big losses to trading counterparties who are not cautious enough. International tax evasion is truly endangered by a new regulation - Agreement of fulfilment of tax obligations on foreign accounts of US citizens (FATCA- Foreign Account Tax Compliance Act). The article aims to present both FATCA and FATCA bilateral Agreement between Romania and the US.

Keywords: The US Foreign Account Tax Compliance Act; the fight against tax evasion; FATCA bilateral Agreement between Romania and the US (search for similar items in EconPapers)
JEL-codes: A23 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:lum:rev4rl:v:1-2:y:2014:i::p:13-20

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