
The three-justice panel issued a brief ruling rejecting the challenge, with a more detailed opinion to follow, while also lifting an injunction issued late last month that had barred Israeli officials from implementing the law facilitating the U.S. Foreign Account Tax Compliance Act among Israeli financial institutions. The statute had been contested on concerns that it violates rights to property and privacy, and has inadequate protections for the information sent to the Internal Revenue Service.

The group launched its suit against the Israeli government in December, claiming violations of rights to privacy, dignity and private property. The complaint raised concerns over the law’s automatic effect and lack of legislative input on implementation decisions.
Israel is not the first country whose government pushed back on FATCA’s requirements, as the Cayman Islands government ordered a delay in reporting dates earlier this summer, starting compliance reporting in August.
The case is Republicans Abroad in Israel v. Government of Israel, case number 8886/15, in the High Court of Israel. The appellate court overturned an earlier injunction against FATCA's implementation in Israel, on the basis that 'privacy in modern life is very limited'.
Prudent Action NOW Could Pre-Empt
Potentially Serious Legal Trouble Down the Road!
Contact the Tax Lawyers at
Marini& Associates, P.A.
for a FREE Tax Consultation
at: www.TaxAid.com or www.TaxLaw.ms
or Toll Free at 888-8TaxAid (888) 882-9243
FATCA reporting deadline extended to end of November
ReplyDeleteDelays and legal objections to FATCA have led to the government postponing the date for the first release of US-citizen and green-card-holder data to the US from September to 30 November.