The Foreign Account Tax Compliance Act (FATCA) has increased scrutiny on the tax affairs of US citizens living outside the US. What advice have we provided to our clients considering giving up their US citizenship?

Several Luxembourg-based banks have refused to accept US clients to avoid FATCA-related reporting.

However, as one of the major financial centres in the world, Luxembourg’s financial industry has integrated the FATCA consequences in its business model.

One of our major challenge in this context is to demonstrate how tax compliance advice can be valuable.