EU's Hands Tied On FATCA Deal Changes, Gentiloni Says

By Todd Buell (January 12, 2022, 11:51 AM EST) -- The European Union cannot discuss or negotiate amendments to bilateral agreements between EU member countries and the United States on the implementation of the U.S. Foreign Account Tax Compliance Act, EU tax commissioner Paolo Gentiloni said.

EU Tax Commissioner Paolo Gentiloni said the organization can talk to the U.S. about FATCA and the application of bilateral agreements, but cannot discuss or negotiate amendments to those deals. (AP Photo/Virginia Mayo) In a letter dated Tuesday, Gentiloni said that while the EU has regular contact with U.S. authorities about the application of bilateral agreements, it's not a party to the deals.

Therefore, "the commission...

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