is a european fatca next? a newspaper in lebanon is reporting european states may bring in their own version of fatca.
Some bankers have said that European states are expected to follow the example of the United States and ask their citizens abroad to disclose their bank accounts to European financial authorities in a bid to combat tax evasion.
wait. those countries do not tax their citizens living abroad. but, of course, we know fatca is not about taxes. it is about power and control through information and threats.
1 thought on “is european fatca next?”
From what I have read on the European front, there is no intention to adopt citizen-based taxation; what they have in mind is improved information sharing on accounts held by residents outside the home country. There are evidently gaps in the current protocols. I suspect the Lebanese newspaper has been careless.