Netherlands tax minister raises FATCA concerns with Washington. Will France and the Netherlands abandon FATCA?

From 20 to 23 May 2019, the Netherland’s Finance State Secretary Menno Snel visited the United States to hold discussions with several congressional representatives and the deputy minister of finance, Justin Muzinich, regarding perceived challenges that Americans living in the Netherlands experience as a result of the Foreign Account Tax Compliance Act (“FATCA”) (Link-Dutch). Snel pointed out that the majority (an estimated 95%) of Americans living in the Netherlands ultimately do not have to pay US taxes. Nevertheless, they have to file tax returns, for which they need an American social security number. Getting the social security number and then filing a tax return is complicated and expensive.

The Netherlands, as well as France, now seem to consider abandoning FATCA due to numerous problems with “accidental Americans” (Link-Blog).

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