Filippo Noseda, Partner in Private tax and Wealth Planning, contributed an article to Trusts & Trustees, Vol. 28, No. 6, 2022, discussing the direction of travel of the US Foreign Account Tax Compliance Act (FATCA), the Common Reporting Standard (CRS), and Public BO Registers.
Filippo wrote: "Defending the fundamental right to privacy, even in the context of bank accounts and corporate ownership, necessarily raises philosophical questions, and requires a fundamental battle, whatever the outcome. I believe that the next 12 months will be decisive for the various cases currently before the courts in Europe and the UK, as well as Canada, where a FATCA-related appeal was heard on 30 March 2022 before the Canadian Court of Appeal."
Read the FATCA, CRS and Public BO registers report on the direction of travel.