By: Helen Burggraf | 22 Aug 2017 | International Investment
‘An anti-FATCA lobbying group led by key US Republican Party members has vowed to take its fight against the Foreign Account Tax Compliance Act to the Supreme Court, in the wake of a US Court of Appeals decision, handed down on Saturday, that affirmed a lower district-court ruling dismissing a legal attempt to derail the legislation.
In a statement on its website, the Republican Overseas Action group said it intends to continue its campaign against the law, arguing that it is causing “real harm” to overseas Americans – contrary, they say, to what the court said in its ruling.
The Court of Appeals ruling found that the plaintiffs – who included Kentucky Republican senator Rand Paul, who has been campaigning against FATCA almost since it was signed into law in 2010 by President Obama – lacked the standing to sue, and that the harms they claimed to have suffered as a result of the law were not, in fact, directly caused by it.’ ….
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