Ruth Mason

Exporting FATCA

CO-AUTHORS Joshua D. Blank
PUBLISHER
Tax Notes
DATE
2014
 

Abstract

The Foreign Account Tax Compliance Act (FATCA) represents a powerful response by the United States to flagrant offshore tax evasion. Although the new reporting regime has been criticized as unilateral and extraterritorial, this short article, prepared for a symposium hosted by Pepperdine Law Review, shows that multilateralism and cooperation so far have been the keys to implementing FATCA. In addition to spurring bilateral Intergovernmental Agreements (IGAs) to implement FATCA, and copycat legislation in other jurisdictions, for many countries, the FATCA reporting requirements represent an aspirational new global standard for automatic exchange of information – one that would supplement, if not replace, information exchange on request.

Citation

Joshua D. Blank & Ruth Mason, Exporting FATCA, 142 Tax Notes 1245-1250 (2014).
 

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