EDPB Issues Statement on U.S. Foreign Account Tax Compliance Act
On February 25, 2019, the European Data Protection Board (the “EDPB”) issued a statement regarding the transfer of personal data from Europe to the U.S. Internal Revenue Service (the “IRS”) for purposes of the U.S. Foreign Account Tax Compliance Act (“FATCA”).
In its statement, the EDPB announced that it will consider European Parliament calls on the EDPB to investigate any infringement of EU data protection rules by EU Member States whose legislation permits the transfer of personal data to the U.S. for purposes of FATCA. The EDBP also noted that it is currently preparing guidelines on data transfer tools provided for by the EU General Data Protection Regulation (“GDPR”).
Source: EDPB Issues Statement on U.S. Foreign Account Tax Compliance Act