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ATOMAC stands for Annual Tax on Overseas Marginalized Assets and Activities Compliance.
Individuals and entities with overseas assets and activities are required to file ATOMAC.
ATOMAC can be filled out electronically through the designated online portal or manually on the prescribed form.
The purpose of ATOMAC is to ensure transparency and compliance regarding overseas assets and activities for tax purposes.
Information such as details of overseas assets, income derived from those assets, and activities conducted overseas must be reported on ATOMAC.
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