US Treasury Dept 'slams door on Same Country Exemption' for expat Americans

American expatriates around the world reacted with frustration on Wednesday to the news that the US Treasury Department had formally ruled out a proposal by expatriate groups that would have exempted US expats from their FATCA information reporting obligations in the foreign countries in which they are currently living. The fact that the US Government had decided against adopting the so-called Same Country Exemption, or SCE, was delivered to the exemption scheme’s supporters in the form of the publication of the Treasury Department’s final regulations governing the Foreign Account Tax Co...