11 reasons why FATCA must be repealed

Label

11 reasons why FATCA must be repealed

Creator

• Bouma, H.B

Subject

• reciprocity principle
• tax treaty
• FATCA

Language

eng

Summary

In this article the author gives 11 reasons why he means FATCA must be repealed: (I) the height of arrogance, (II) blatant violation of the golden rule, (III) bullying at the nation-state level, (IV) disruption of international relations, (V) direct conflict with many foreign laws, (VI) negative impact on the US economy, (VII) immense burden on foreign financial institutions to comply, (VIII) burden on US individuals residing abroad, (IX) waste of Treasury and IRS resources, (X) efficient and effective enforcement tools already exist and (XI) the US is not willing to provide the same information on a reciprocal basis

Citation source

In: Tax planning international review. - London. - Vol. 40 (2013),

Geographic coverage

North America

Language note

English