Eagle Worldwide Inc.(fka ELWD)

[fltrader]

Midas , as most people are civic minded, declaring foreign assets is no big problem, because they aren't taxed until they become income. Foreign income and foreign assets are far apart from each other. For the IRS to try and tax those assets or investments held in another country would be double taxation on US citizens. When trying to repatriate assets then you would have to show the cost of those assets and would be taxed at prevailing tax rates on any income produced by those assets. Example: I convert 10K shares into 1 PDR. My cost of the 10K shares was say $20.00 and converting to one PDR made it worth $121.00. This is still an investment and will not get taxed until sold and funds brought home. All should consult their tax advisors.