13-10-23 US-SWITZERALND and US snooping: FATCA- Breaking through Fear with a Swiss Referendum

FATCA: Breaking through Fear with a Swiss Referendum

Posted on October 19, 2013 by Just Me Posted in Issues regarding US persons abroad 36 Comments

October 16, 2013

From: Bilan.ch, Switzerland

By Mohammad Farrokh

The Swiss are likely to vote to overturn a FATCA agreement with the US Treasury Department, which has recently been ratified by Parliament. On October 8, a STOP-FATCA referendum committee has been set up, amid skepticism and fears of US reaction. Direct link to access the referendum is here

[Note: FATCA (Foreign Account Tax Compliance Act) is a law requiring Swiss Banks to transmit the financial data of US expatriates, as well as many Swiss citizens, to the IRS. Original French (translated by Victoria Ferauge): Money & Finance “FATCA: un referendum pour briser la peur”, at http://www.bilan.ch/argent-finances-les-plus-de-la-redaction/fatca-un-referendum-pour-briser-la-peur ]

FATCA: un référendum pour briser la peur

http://www.bilan.ch/argent-finan...

Le lancement du référendum contre FATCA, le 8 octobre, a été accueilli avec beaucoup de scepticisme en Suisse où la crainte des représailles américaines est grande.