ARTICLE · 31 AUGUST 2017

FATCA Withstands Challenge In Court

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The penal withholding tax provisions of FATCA are making it difficult for US citizens to do business with foreign (non-US) financial institutions

Cayman IslandsTax

Tim Frawley

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The penal withholding tax provisions of FATCA are making it difficult for US citizens to do business with foreign (non-US) financial institutions. The OECD's Common Reporting Standard relies instead upon each participating jurisdiction to enforce the reporting laws. Is that a silver lining for CRS?

Sixth Circuit affirms that plaintiffs lacked standing to challenge foreign reporting requirements

Dismissal of FATCA Lawsuit Upheld

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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