FATCA (Taxes on US citizens all over the world)!!!
Hope all is well.
I have a dual nationality, Egyptian and American, so usually when i travel to Europe i travel with my american passport, and in that case i wanted to exchange from Egyptian pounds to dollars with the official rate from the bank which i have accounts in, so what they basically need is (My ticket+ My visa and the Egyptian passport) but in this case i don't need the visa since i am an american, so i just send my ticket and the US passport.
After sending them the requirements, they told me you have to come and sign about 20 papers that says that i am american and taxes will be applied on me, so now i will be paying both Egyptian & American taxes, so i refused to sign the papers.
My question is: is it ok to sign these papers? will i be subjected to income tax? if i don't sign the papers, will be there any sanctions or penalties?