At first glance, Japan seems like it would be a good place to hide money because of the cultural differences and language barrier, but that’s not the case.
An agreement has been made between the U.S. Treasury Department and the countries of Japan and Switzerland to help banks in those countries comply with upcoming U.S. tax regulations and to track down American tax evaders hiding money abroad.
Under the agreements, the foreign financial institutions or banks in those countries would deal directly with the U.S. government to provide the American accountholders’ information, such as reporting to them the identities, account balances, and other information on U.S. accounts in 2014 and 2015.
When I hear about things like this it shows me more and more how America seems to care more about money than people. It’s too bad the country doesn’t focus on foreign custody cases when it comes to marriage and child custody and work with Japan regarding child abduction before it looks for stashed cash.