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EU Policy Suggestions on FATCA Include Blocking Legislation Until Reciprocity Issues are Resolved

28 September 2022

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Treaty Development

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European Union-United States

The European Parliament has published an in-depth analysis that updates a previous report on FATCA legislation and its application at the international and EU level. This includes policy suggestions to address reciprocity issues with the U.S. under FATCA, such as the introduction of blocking legislation that would apply until reciprocity issues are resolved along with a 30% withholding tax on EU source payments to the U.S. to mirror the 30% withholding imposed by the U.S. when FATCA requirements are not met. --- 7.3. Policy suggestions This paper concludes confirming the policy suggestions of the Report 2018 and advised by the...