The Vatican Bank, Christmas Cheer, and FATCA

Source: Tax Analyist
For years, the Vatican Bank has sidestepped EU regulations intended to bring about greater transparency in the financial sector. That was before Pope Francis, who has pledged to restore public confidence in the administration of the Roman Catholic Church. This week we learned the United States and the Holy See have brokered a FATCA agreement for the automatic exchange of taxpayer information.
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