FATCA & GDPR in Belgium

[zzzzzz]

"Belgium’s Data Protection Authority ruled that the country must stop sharing the private financial information of Americans living in Belgium with the US Internal Revenue Service. "

Belgium Comes to the Rescue of American Expats in Tax Hell

The question now is whether the US, Congress and the IRS also want to help Americans abroad.

www.bloomberg.com

 

[marioIT]

well, this could either turn very interesting or... not.
Who knows. I don't think USA will surrender its sovereignty over its citizens that easily.
But things could escalade for sure if other EU countries would follow up.
It's not a random thing it started right from the country hosting the EU parliament...

more details below. It's like 30 lines of legalese trying to tie the non-reciprocity of the fatca to a small clause of the GDPR and forcing it to be retroactive somehow,
and then casually at the end 2 lines to say oh yeah also data protection would not be up to spec

Belgian DPA prohibits the transfer of tax data of Belgian “Accidental Americans” to the USA | Autorité de protection des données<br>Gegevensbeschermingsautoriteit

Elastic website

www.dataprotectionauthority.be

they clearly allude to "(re)negotiating an agreement to make it GDPR compliant"...