This is a print version of part of a November 19 CBC radio interview in which a representative of the Canadian Bankers Association as well as Allison Christians (Chair of Tax Law at McGill University) and a U.S. person in Canada were interviewed.
The title of this November 25 CBC update “Canadian banks to be compelled to share clients’ info with U.S” is incorrect as the banks are aware that they have the option to resist FATCA and lobby seriously for its repeal.
It might be significant that the CBC/CBC reporter selected the pointed phrase that our financial institutions are being “deputized by the IRS.”
@Em notes below that there are 650 comments already (7:45 pm) on this CBC site– with most anti-FATCA (and not from the usual Brocker/Sandboxer crowd)
Some commenters do not understand FATCA and ask: “What are people so afraid of if they have nothing to hide?”
See the CBC link:
Shadow Raider would know more about the system Uruguay uses. See also this entryhttp://en.wikipedia.org/wiki/International_taxation#Citizenship.
This is a Las Vegas publication (see: http://maplesandbox.ca/2013/guardian-reporting-on-fatca/) but I thought it would be a good idea to point its readers towards the CBC News article’s more reasonable (IMHO) presentation of FATCA. My comment eventually appeared but not without a 503 Error message, whatever that is.
I am sure dual citizens from Uruguay do not care whether the example is changed to please other group of dual citizens. Anyway, making fun of our fellow public servants was funny. I myself can recall an embarrassing letter due to a funnyspell corrected word.
CBC speaks with forked tongue today about FATCA. The pompoms for FATCA come out near the end…
Are we now going to have to ask the CBC to clarify its position on FATCA?
The CBC needs to look at the overall failures of the IRS to secure taxpayer data from theft and vulnerability – issues closely associated with FATCA, FBARs and other financial asset reporting: