THE TRANSATLANTIC MAGAZINE
THE TRANSATLANTIC MAGAZINE
FATCA Challenge Fails at the Supreme Court
The US Supreme Court has denied to hear Senator Paul's challenge to FATCA
Towards the end of 2017 and the start of 2018, there has been a definite surge in the campaign against the Foreign Account Tax Compliance Act (FATCA), but with yesterday's ruling that the Supreme Court will not hear the recent petition against the law by Senator Rand Paul and others, the question is: where does the campaign go next?
As we reported last year, Senator Paul submitted an amendment to the then US Tax Reform Bill to end FATCA, but despite the increased awareness of FATCA's effect on Americans residing overseas, the Supreme Court have ruled in favor of a Sixth Circuit court decision from August 2017 which stated that the challenge was without standing.
Although not a major surprise, the ruling is yet another indication that despite the increased efforts from political figures like Senator Paul, and organizations including Democrats Abroad, Republicans Overseas and American Citizens Abroad, to draw attention to the implications of FATCA and Citizenship Based Taxation on Americans living and working abroad, the road ahead for FATCA and CBT campaigners may well be a long and difficult one to traverse.
