Public Hearing on FATCA

On 12 November 2019, the European Parliament’s Committee on Petitions held a public hearing on the Foreign Account Tax Compliance Act (“FATCA”) titled “FATCA and its extraterritorial impact on EU Citizens” (Link). To reach the EU’s objective of understanding the issues EU citizens affected by FATCA are facing, the hearing consisted of two panels, focusing on financial services and the exchange of tax information with the U.S. and on potential conflicts between European data protection rules and FATCA.

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