Question: “Will we have to pay any kind of tax after or during the exchanging of the dinar for American dollars?” When you go to the bank and you present your dinar…don’t leave your eyes off of them. You make sure that you see your account has been credited…At that point they are not going to say to you, ‘Ok Mr Frank you have 1 million dinars you owe $300,000 in taxes.’ A bank doesn’t collect taxes. They’re not made to do that…They don’t have the facilities to collect taxes from you as an individual… [NOTE: Consult your tax professionals so you pay the right amount of tax for your unique situation.]
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