Denis Kleinfeld: Will Republicans Ever Kill FATCA? –

The Foreign Account Tax Compliance Act (FATCA) imposed a worldwide financial disclosure information regime on every financial institution in the world.

FATCA was passed into law in 2010 on the unsubstantiated claim that each year the U.S. loses an estimated $100 billion in tax revenue due to offshore tax abuse. 

When enacted, FATCA was projected to raise some $870 million



Comments are closed.