Overview
Department of the Treasury Releases Boycott List: The Department of the Treasury has released the current list of countries which require or may require participation in, or cooperation with, an international boycott (within the meaning of Section 999(b)(3)). The list, unchanged from the last published list, consists of Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria, United Arab Emirates, and Yemen.
Study Analyzes Application of FATCA at International and EU Level: Today a study titled “FATCA Legislation and its Application at International and EU Level“ and commissioned by the European Parliament’s Policy Department for Citizens’ Rights and Constitutional Affairs at the request of the European Parliament’s Committee on Petitions was released. Among other things, the study provides a global overview on the exchange of tax information and of the mechanisms under the Foreign Account Tax Compliance Act (FATCA) as applied through intergovernmental agreements. The study also describes the impact of FATCA on US citizens abroad and potential conflicts with European Union (EU) law.