While I know personally and I suspect many others here would like some stronger language I think the California Bar Assocation Tax Section raises some very pointed comment in their letter that discusses the issues we are facing here. I should further point out that the fact they bring up these issues is not for naught as the California Tax Section is one of the most influential groups of US Tax Lawyers. In particular I think they raise a very pointed question of the IRS Commmisioner which is the entire recent crackdown intended only solely to go after people living in the US with offshore assets or people residing outside the US with basic banking arrangements in their home countries. I also wanted to post this letter because two of the more prominent friends of the site(Steven Mopsick and Phil Hodgen) are members of the State Bar of California- Tax Section
Daily Archives: May 6, 2012
Russia will not enter into an intergovernmental agreement with the United States on the application of FATCA
Russian article, published in Russian:
http://www.klerk.ru/law/news/274541/
Anyone with Russian who might provide a good translation? Google translation, with the usual disclaimers, follows. It’s good enough to get the general drift:
According to the letter of the Ministry of Finance of the Russian Federation, Russia has no plans at the international level to harmonize the application in our country the law of the United States, which relates to the mandatory disclosure of payments to the persons subject to taxation in the United States. This May 4 at the conference “Compliance in Russia,” said Director of the Department advising on risk management and compliance at KPMG Dmitry Chistov. From the event: Klerk.ru correspondent Sergei Vasiliev.
Nordic banks push for Fatca reciprocity
Nordic banking associations open Fatca reciprocity talks
The push for reciprocity under the US Foreign Account Tax Compliance Act (Fatca) is gaining pace, with banks in four Nordic countries now also urging their national governments to facilitate bilateral agreements with the US.
http://www.risk.net/operational-risk-and-regulation/news/2170830/nordic-banks-push-fatca-deal
A trip to the Center of the Universe….and shameless pimping on RRSPs
Thought you Canadians would be interested in this little Jello shot from Phil Hodgens…
He is off on a mission, to The Center of the Universe @ 1111 Constitution Avenue NW, Washington DC 20224.
New Zealand Government position on FATCA
Here it is:
http://bsmlegal.com/PDFs/NZ.pdf
They don’t know quite what they want other than they want KiwiSaver plans exempted. JustMe and Moby might want to call their NZ MPs and have a word with them. They also claim to have extensive information sharing between NZ IRD and US IRS.
Perhaps you might want to have a word with Danie Beukman, Second Secretary at the New Zealand Embassy in Washington.
Another group I suspect might be interested in this letter I suspect would be the NZ Greens and NZ Labour.
Update: Call Danie Beukman on Monday. Really he works pretty closely with the US House Ways and Means committee. He is pretty active on Twitter also.
