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Congressional Tax Proposals May Significantly Impact the Global Financial System
by L. Wayne Pressgrove
King & Spalding LLP - Atlanta Office
John C. Taylor
King & Spalding LLP - London Office
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November 6, 2009
Previously published on November 2009
On October 27, 2009, the Chairmen of the House Ways and Means and the Senate Finance Committees introduced identical legislation ostensibly aimed at offshore tax evasion. The bill is titled the "Foreign Account Tax Compliance Act of 2009" (the Act). The Act has already earned the nickname "FAT CAT" based on its acronym.
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