Московский журнал международного права (Jun 2016)
American Foreign Account Tax Compliance Act as a Source of Conflict of Interests of the State and Corporations
Abstract
The aim of the present Article is to analyze the inaction between the state and financial organizations on the example of one of the exterritorial acts - FATCA-Foreign Account Tax Compliance Act. For the first time ever the present article analyses the conflict between international law and global law basing on FATCA: in fact FATCA-local law of the US - shall be applied on the territories of other countries. The article specifies that FATCA is not a precedent. The author researches on FATCA provisions, on their applicability in the Russian Federation, the change of attitude of Russian officials to FATCA, makes a conclusion on the legal bases to apply the exterritorial law in Russia. Another result of the present Article is in the substantiation by the author of the conclusion that application of FATCA in Russia may be considered as a violence of the sovereignty of the Russian Federation, which means superiority and independence of the state power, legislative, executive and judicial power of the Russian Federation and independence of the state in the international relations. General, specific and particular research methods are used in the Article, including systemic, comparative, historical and juridical research methods. The practical value of the article is in the possibility to apply its main provisions and results in scientific and academic activities while waiting practical results of deoffshorising of Russian economy and during the course of anti-money laundering.
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