FATCA - ACA submits testimony supporting adoption of Same Country Exemption (SCE) to the House Subcommittee on Government Operations

ACA today (April 26th) submitted testimony supporting adoption of Same Country Exemption (SCE) to the House Subcommittee on Government Operations at its hearing on "Reviewing The Unintended Consequences Of The Foreign Account Tax Compliance Act [FATCA]. 

A Same Country Exemption would exempt accounts held by  a US person who lives in the same country as where the bank is located.

Click here to read ACA's FATCA hearing testimony.