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The Israeli High Court has issued a temporary injunction against the enforcement of the controversial American global tax law: FATCA (Foreign Account Tax Compliance Act).
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The Israeli government planned to start actively implementing the law in the country on September 20, which requires all non-U.S. financial institutions worldwide to report the financial information of American clients and U.S. green card holders who have accounts holding more than $50,000 directly and routinely to U.S. authorities, as well as proving that they don’t have American clients ... (read more)