Sub-national currencies struggle to survive

Jurate Gulbinas   |   12 Jan 2017   |   1 min read

Over 80 local currencies launched in America since 1991, but only a few last. Local currencies are only accepted at willing local businesses. They are not backed by the central bank. Local-currency circulation in most places is really low. Local currency is accepted at 150 local shops and businesses and can be used to pay local taxes.

Sub-national currencies struggle to survive

Download our eBook “Moving To The US”

Disclaimer:
This document is intended as an information source only. The comments and references to legislation and other sources in this publication do not constitute legal advice and should not be relied upon as such. You should seek advice from a professional adviser regarding the application of any of the comments in this document to your fact scenario. Information in this publication does not take into account any person’s personal objectives, needs or financial situations. Accordingly, you should consider the appropriateness of any information, having regard to your own objectives, financial situation and needs and seek professional advice before acting on it. CST Tax Advisors exclude all liability (including liability for negligence) in relation to your reliance in this publication.

NEED ASSISTANCE FOR YOUR SITUATION?

Contact us today
Contact Us

"*" indicates required fields

Do you need tax services in our other regions?
By providing us your information you agree to our privacy policy

More articles like this

 

Podcast: Navigating NFTs, DAO and GameFI


21st Mar 2024
CST Tax Advisors

Boon Tan, Managing Director of CST in Singapore, recently joined Hemandra Tanapalan, Chief Executive Officer at Mstige Holdings, to discuss the intricate world of Web3 Together they unpack the tax...

 

Webinar: Relocation To Singapore


13th Mar 2024
CST Tax Advisors

Our Managing Director in Singapore, Boon Tan, will be participating in Singapore Global Network’s “Relocation to Singapore” webinar The webinar is designed for foreigners relocating to...

 

US Taxpayers given some Reporting Relief on certain Foreign Trust Investments


10th Mar 2020
Jurate Gulbinas

Section 6048 requires US taxpayers to make an annual report regarding financial or asset transfers in relation to the receipt of distributions from foreign trusts Taxpayers can be penalised if they...

 

Podcast: Navigating NFTs, DAO and GameFI


21st Mar 2024
CST Tax Advisors

Boon Tan, Managing Director of CST in Singapore, recently joined Hemandra Tanapalan, Chief Executive Officer at Mstige Holdings, to discuss the...

 

Webinar: Relocation To Singapore


13th Mar 2024
CST Tax Advisors

Our Managing Director in Singapore, Boon Tan, will be participating in Singapore Global Network’s “Relocation to Singapore” webinar The...

 

US Taxpayers given some Reporting Relief on certain Foreign Trust Investments


10th Mar 2020
Jurate Gulbinas

Section 6048 requires US taxpayers to make an annual report regarding financial or asset transfers in relation to the receipt of distributions from...