“FATCA has grave implications for the United States, and for U.S. citizens investing or living abroad. Here’s what I foresee unless Congress repeals FATCA: Foreign inbound U.S. investments will collapse; FFIs and NFFEs will consider anyone with even the most remote connection to the United States as a ‘U.S. taxpayer’; and Foreign governments will retaliate against U.S. citizens. Many countries already prohibit certain nationalities from applying for residence or even visitor’s visas. When FATCA is fully implemented, U.S. citizens may well join these exclusion lists. That’s ‘blowback’—’the unintended adverse results of a political action or situation’—for you.”
https://nestmann.com/blowback-from-u-s-role-as-global-tax-cop/
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