The success of a broad U.S. crackdown on offshore tax dodging will be determined in part by China's cooperation, but talks with Chinese officials are making little headway, former U.S. Treasury Department officials and tax professionals said. FATCA requires foreign financial institutions to tell the United States about Americans' offshore financial holdings. One obstacle in the Chinese talks is likely that China wants, in return, more tax information than U.S. officials are willing to share about Chinese citizens who have assets in the United States, accountants and tax lawyers said. China - the world's second-largest economy - is seen by some tax experts as an important participant if the U.S. Foreign Accounts Tax Compliance Act, or FATCA, is to work effectively, especially in Asia. Without China, FATCA won't be airtight, said John Harrington, a partner with law firm SNR Denton. He previously served as Treasury's international tax counsel. China's State Administration of
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