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A comment on Ask HN: What is the best jurisdiction for internationally distributed teams?. Parent comment

Re:Ask HN: What is the best jurisdiction for internationally... by rdl on Saturday June 04, 2022 @04:25PM (#31624696)
Not an attorney, not a tax attorney, not your attorney, but US persons are required to report bank accounts they hold globally under both FBAR and FATCA, and signatory authority on business accounts is also a thing. Additionally, controlled foreign corporations are a thing for US people.
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Re:Ask HN: What is the best jurisdiction for internationally... by scottlilly on Saturday June 04, 2022 @07:21PM (#31626143)
I'm also not a lawyer or CPA, but I believe if a US person is a partial owner in a foreign corporation, the company is required to do their accounting by GAAP standards. So, if the company is in a country that follows IFRS standards, it would have to do their books twice.
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