Dutch tax minister: U.S. won't take immediate action against banks over FATCA info shortcomings

Dutch tax minister Menno Snel has said that his country's banks and financial institutions should not feel a need to panic over those of their so-called "accidental American" account-holders who lack U.S. Social Security numbers and other key data soon to be required by the U.S. tax authorities, as he has been assured that any repercussions for failing to comply with the regulations in question could be delayed by as long as several years.

  • Tax

Now Dutch lawmaker meets with U.S. officials over FATCA impact on 'accidentals'

Dutch finance secretary Menno Snel has become the latest European official to raise with Washington the matter of the harsh effects U.S. tax legislation is having on European citizens – in Snel's case, Dutch citizens resident in the Netherlands – as part of efforts aimed at convincing U.S. lawmakers to make changes to these laws.

  • Tax
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Opinion

INSIGHT: First it was FATCA, now MiFID II has U.S. investors in Europe facing nightmares

INSIGHT: First it was FATCA, now MiFID II has U.S. investors in Europe facing nightmares

First, U.S. investors living in Europe had to face FATCA. Now it’s the EU’s Markets in Financial Instruments Directive (MiFID II).  Here, Jonathan Lachowitz, of Lexington, Massachusetts-based White Lighthouse Investment Management...

Nov-20-2019