FATCA: will Europe pay the price for one-sided U.S. financial information demands?

FATCA: will Europe pay the price for one-sided U.S. financial information demands?


It seems that “automatic exchange of information” (AEOI) is all the fashion at the European Commission as a means to combat “revenue losses incurred due to tax fraudsters and evaders.”  To that end, a recently proposed Council Directive would base an AEOI “pilot action” on model intergovernmental agreements (IGAs) drafted pursuant to a “joint statement” last year by the U.S. Treasury Department and five EU governments for “reciprocal” implementation of the U.S. “Foreign Account Ta...


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