February 3, 2014 UPDATE: Urgent:
Public submissions can be made from anywhere in the world. All that is required is a name, email address and phone number. But you will have to be quick as the link will be closed at midnight on Wed 5th Feb New Zealand time. (That is actually 3 AM the morning of Feb 5th on the West Coast of America.)
I hope you will find time to express your opinion to them. It is very much appreciated. The link is here:
http://www.parliament.nz/en-nz/pb/sc/make-submission/50SCFE_SCF_00DBHOH_BILL12926_1/taxation-annual-rates-employee-allowances-and-remedial (scroll down to “make an online submission”)
Plainly put, FATCA is more Stealth in New Zealand than in America.
Osgood has provided us good informational analysis of the pending Legislation for New Zealand to capitulate without a fight to the FATCA IGA.
This inspired a good article at The New American but nothing in New Zealand media. The last article I have seen is this at Interest.co.nz from November.
The Ministery of Revenue has NO IDEA OF THE COST of what they are doing, or HOW MANY U.S. PERSONs in New Zealand! Nor, do they or the Ministry of Justice seem to care. All they care about is finding a way legislatively to comply. Banks want their bailout, and the government is determined to give it to them, it would seem. Let ALL Kiwi bank customers pay the cost.
Osgood has recently sent an email plea for submissions from over seas, as when it comes to media coverage in New Zealand, FATCA is operating like a Secret CIA covert operation that the citizenry is unaware of.
See below for his request for help. Submissions are easy to do! They are due by February 4th, USA time.
Osgood writes:
Just a quick catch up with regard to the NZ submission. The deadline for submissions is now 10 9 1 day away. I had a look at the submission process and it is very straightforward. All you need to provide to make a submission is your name, a phone number and an email address. You do not even need to make up an attachment. If the submission is short (4000 chars or less) it can simply be typed (or cut and paste) into the text box provided.
Submissions can come from anywhere in the world. The link is here and at the bottom of this email.
I have made some attempts to raise visibility of this on Brock, but I fear that it is being missed by the majority and in any case, most peoples attention is focused on Canada right now (understandably). However, I think it would be of great benefit if as many people as possible can put in some form of submission opposing New Zealand signing an IGA for FATCA. The more that come from outside New Zealand, the better IMHO.
The New Zealand government has gone to great lengths to cover this legislation up as much as possible. They are trying to hide it from the parliament, and the New Zealand public. If they receive submissions from overseas this will at least alert them to the fact that their actions have been noticed elsewhere (perhaps more than in this country!). Also, whether they like it or not all submissions received must be made public on the website, and they must be addressed in the Select Committee report to parliament (due in June). It carrys a lot more power than letters to Ministers which can effectively be ignored (as I well know).
They are relying on the fact that people are unaware or too busy to make a submission. This is an opportunity not to be missed!
Many people that make detailed comments on Brock could simply modify them slightly and cut and paste them into the NZ submission form. It really is not difficult. The detailed analysis that was posted on Brock was a great help, but may put a lot of people off due to its detail. It is not necessary to go into that detail.
New Zealand needs to be made aware that this is a global issue. Other nations, such as Canada are starting to stand up to the bully and need support from countries like New Zealand. Anyone that can report the shock, anxiety and horror at finding out about this would also make a good submission.
The other thing I thought of was that maybe a submission could also be made on behalf of “Isaac Brock Society”, but that may be too much at this stage.
Anyway, I would appreciate it if you wouldn’t mind forwarding this on to your network, particularly to those that you think would be willing to take an hour or so to make a submission. I am thinking the regular bloggers and also perhaps Jim (Jatras), and anyone else you think would be a candidate
The summary of the situation that I posted on Brock is below:
1. The NZ cabinet has already agreed to “negotiate” a Model 1 IGA with the US. This has not been subject to consultation or parliamentary process
2. NZ has extensive Privacy and Human Rights laws that need to be broken for our FIs to adhere to FATCA
3. The NZ gov has introduced a bill to force NZ FIs to comply with the (as yet unsigned) IGA. It does by defining the IGA as a Dual Tax Treaty which overrides domestic Privacy laws. It is not clear how this gets around the Human Rights issues.
4. The FATCA section (called Foreign account information-sharing agreements) is buried in the bill which contains much unrelated legislation.
5. The bill has been referred to Select Committee and is open for public submissions.
The link for submissions is here: http://www.parliament.nz/en-nz/pb/sc/make-submission/50SCFE_SCF_00DBHOH_BILL12926_1/taxation-annual-rates-employee-allowances-and-remedial
Scroll down to bottom and click the box “Make an online submission”. There is help available here if required.
Important: Submissions are due no later than Feb 5th, but due to time zones this will be February 4th in most places in the world.
Thanks a lot.
My Note: Even if you are not so inclined to make a submission on another Countries legislation, maybe you know a Kiwi somewhere who will. We see very few on Isaac Brock, so uncertain how to reach them. Please forward this onward to those who might be impacted and be so inclined.
Please note this:
The Ministry of Justice has determined via its recent Web announcement, the following:
We have concluded that the Bill appears to be consistent with the rights and freedoms affirmed in the Bill of Rights Act.
A letter to the Attorney General challenging that decision, and asking them to provide analysis has resulted in this simple dismissive statement:
I have nothing further to add to the consistency of the bill to the New Zealand Bill of Rights Act.
@calgary411
Thanks for your submission. Having your one concrete example of the impacts of American’s extra-territorial claims on your family might give lawmakers some pause to consider what they are doing and how an IGA might affect Kiwis who are so far unsuspecting of what is coming.
@Osgood reports…
FATCA Top Story on the Radio National website: http://www.radionz.co.nz/news/political/235129/government-has-'no-choice'-over-privacy-info
First story on 8pm news: http://www.radionz.co.nz/radionz/programmes/news-bulletin/audio/2584610/radio-new-zealand-news
Segment on the Afternoon panel:
http://www.radionz.co.nz/national/programmes/afternoons/audio/2584581/the-panel-with-penny-ashton-and-susan-hornsby-geluk-part-1
Segment starts at 08:10. FCC lawyer from PWC gives the party line. They still seem to think it is about Americans living here.
When I get time I will email them: afternoons@radionz.co.nz
Also, here is the journalist who broke the story in the Dom Post and on Stuff.
Ben Heather
Social issues reporter
ben.heather@dompost.co.nz
@BHeatherJourno
04 474 0519
027 296 0761
Again from Osgood whose wife has been listening to Radio National while he was working. 🙂
Is this an CBC equivalent break through?
Interview with David Parker, who is on the Select Committee: http://www.radionz.co.nz/national/programmes/checkpoint/audio/2584601/labour-wants-us-to-hand-over-nzers%27-tax-details
Another clip with quote from David Clark, also on Select Committee: http://www.radionz.co.nz/national/programmes/checkpoint/audio/2584585/government-says-no-choice-but-to-bend-to-us-demands
@Just Me
Thanks for putting that up. Interesting that the reporter is a “social issues” reporter and not tax or business.
I have just made my submission to New Zealand, urging the government of NZ to not sign an IGA, and stressing the injustice of CBT.
Thank you Mr. A.
I am about to send mine in too. Just proofing it this morning…
BTW, some very robust comments at the NZstuff article I have comment 177 in moderation… After that one clears, I have another… 🙂
http://www.stuff.co.nz/national/politics/9681670/Move-to-alter-privacy-laws-to-help-US#
Pingback: The Isaac Brock Society
Interesting post at USCitizenSolutions…
http://citizenshipsolutions.ca/2014/02/04/submission-to-new-zealand-finance-and-expenditure-committee-fatca/
@Osgood…
Ok, I submitted mine and got a reference number, so good to go. I am sure it is NOT as thorough as your 30 pages, or as eloquent as USCitizenabroad, but I got to craft a familiar narrative for you, and hopefully every little bit helps..
@Just Me
I’m frankly amazed at the response we are getting here. BTW – in case you haven’t spotted it yet, the usual rubbish from Gareth Vaughan at interest.co.nz : http://www.interest.co.nz/personal-finance/68343/nz-has-no-option-co-operate-controversial-us-fatca-tax-law-pm-john-key-says
All he has done is parrot the government rhetoric in the RIS. No effort to investigate whatsoever.
I am beginning to believe he is a one man show, that just recycles press releases and standard talking points of the FCC or government without critical analysis or comment or questions. He doesn’t respond either to any tweets or other attempts to engage him. I don’t know if I will bother putting up a comment as I am tired of writing, editing, and reading / re-reading knowing I still could have done better or missed something in my submission.
Those submissions are like a college thesis. No matter how much time is available you will always feel you could have done better. Lets hope they listen.
But they have already been told by their “leader” that they have no option. What a friggin’ jelly fish…
Here were the options I put in my submission…
There are other choices if you wish to defend your banks. NZ could join together with the other TPP countries and just say NO as a condition of continued negotiation. You do have levers of power that can be exercised. You don’t have to sign up just because the UK poodle has.
Take America to the WTO with a charge of unlawful sanctions for evasion actions that neither you or your Financial Institutions have committed. That would defend your banks.
Withhold NZ revenue from USFIs as retaliation!
@Osgood…
Here was my submission…
http://isaacbrocksociety.ca/?attachment_id=25602
and if others did not see it elsewhere, here was CF&P’s submission by Brian Garst
http://freedomandprosperity.org/2014/press-releases/cfp-urges-new-zealand-to-reject-fatca-compliance-legislation/
@Osgood…
Regarding that Interest.co.nz article by Garth Vaughn
I was pissed all night thinking about that “No Options” whine… So finally made a comment…
Here it is…
Note to self:
Don’t ever bet on John Key in a Prize Fight. He will just lay down on the mat in the opening round and take a TKO before the bell rings to begin a fight!
Of course John has Options! Capitulation because some other poodles are doing what America demands via Sanctions and extortion, doesn’t mean he has to immediately roll over and comply.
Geez…
Here are 10 options for you Mr. Key, in no particular order, if you are so worried singularly about the financial institutions and don’t give a whit about the rights of Kiwi Citizens.
1. Show some Kiwi Pride and fortitude publicly! At least make a public statement of condemnation of U.S. Practice and send it to the President along with a request for T-off times. Tell him New Zealand is NOT a Tax Haven like America is, and to stop the hypocrisy. Demand that Obama clean up their own back yard before coming to the Pacific to extort their will.
2. You could form a coalition with the TPP partners and tell America to back off the extortion threats or all negotiations stop right now! That frankly will win you allies in the Democrat party that are needed to Repeal FATCA. Use that negotiation lever!
3. You could threaten America with taking it to the WTO for restraint of Trade for using Sanctions against NZ, a country who has engaged in NO evasion or illegal Activity. How can you accept sanctions when you have done NOTHING to justify them? You are NOT Iran for god’s sake!
4. You could instruct NZ financial institutions to retaliate and withhold 30% of any NZ revenue that any US financial Institution holds in New Zealand.
5. You could engage a U.S. Lobbying firm to team with with the Republicans (the Nationals natural allies) to support their recent Repeal FATCA resolution. Americans know even less about how bad FATCA is than Kiwis. If you can spend $25 million on an American Cup, how about spending $25 million to Stop FATCA with a media educational lobbying effort for ignorant Americans. Why give into the Democrat FATCAnatics that created this Monster? You are philosophically opposed to them. Spend some money helping defeat the Senators most responsible.
6. You could command Ambassador Mike Moore to call John Kerry and tell him if the FATCA extortion doesn’t immediately stop and the threat removed, you are pulling all troops and support for any U.S. Military mission.
7. You could have you UN ambassador bring up a resolution to the Security Council to condemn America’s practice of Citizenship Taxation in exactly the same manner as America signed onto the resolution against Eritrea taxing its citizens living abroad.
8. You could command your Financial Institutions to begin their divestiture from U.S. assets and look elsewhere to place their money. You could set an example yourself with a public declaration that you will no longer own any U.S. assets.
9. You could threaten to stop your cooperation with the NSA spying apparatus in New Zealand and end your membership in the 5 eyes. FATCA is just U.S spying, so end cooperation with the U.S. surveillance State.
10. You could call the U.S, Ambassador to NZ on the carpet and tell him his extortion method of conducting international affairs is unacceptable, It is NOT an “international norm”! If they don’t stop such abhorrent behavior and engage in multi-lateral mechanisms he can pack his bags and go home!
So, don’t give me this mealy mouth whine that you have ‘No Options’. You have plenty of options Sir, you are JUST AFRAID TO TAKE THEM!
Frankly your willingness to discriminate against a class of New Zealand Citizens and residents, their wives, children and business partners who the IRS (at its sole discretion) determines are “U.S. Persons” means you accept US domination over your Citizens! This is an immoral and unjust violation of your Bill of Rights and Human rights that doesn’t end just because you change your laws. What demand will you give into next? What if China or Russia or North Korea want the same?
Your willingness to change your laws and so easily capitulate along with the other poodles means you have lost any moral high ground. You are descending into the cellar of despots. You are giving into a bully who does not know how to practice “international norms”. They now see your weak kneed response, and will be back for MORE! What an example to set for your children when they are bullied at school!
If you are going to take a dive, then at least put up a face saving fight for New Zealand Sovereignty, or just apply now to be the 51st State of Union and get it over with! At least then you can join Nevada, Delaware or Wyoming as a REAL tax havens and not have any worries that the Feds will extort you to stop!
@Just Me
Great comment. You should send that in an email or letter to JK’s parliamentary email address. j.key@ministers.govt.nz They must respond at some point. Not that it will be a useful response but at least someone on his staff will have to suffer reading the awful truth.
Saturday Feb 8th, and the New Zealand Herald Weekend edition is out….
Headline… Drum roll please…
Cricketers in trouble Again….
Story above and below the fold.
So, that is what is important to Kiwis…and what makes BIG news…
Inside the Paper…
The World section…
U.S. Hacked.. They love reporting on U.S. FU statements (they love to write out F**k) about the EU, but no mention of the U.S. F.U on FATCA, of course…
In the Business Section..
Nothing…
A FATCA search online, only returns this…
I take this as a clear message, that they are NOT interested in this story
Pingback: Republicans Launch ‘Abolish FATCA’ Petition Site — 1389 Blog - Counterjihad!
For anyone that is interested here is the link to the webcast of the New Zealand Select Committee meeting due to run between 9AM and 1PM Wednesday New Zealand time:
http://www.parliament.nz/en-nz/about-parliament/see-hear/webcast-of-select-committees/
I understand that John Richardson is scheduled to make an oral submission at 11:45 AM.
@osgood…
Thanks for that. That is tomorrow. I will put in on the computer and listen while I work! I wonder how many will tell everyone how good it is.
If you haven’t read this description of Canada IGA yet, you should…
Its a leviathan. And it breaths fire.”
I have been meaning to update the out come of the Select Committee hearing which was 2 days ago but other chores have gotten into the way. Some of you might have caught portions of it on the internet. Sadly, they do NOT archive recordings of any of the presentations, and so all is lost but your memories, and heaven knows those do fail us!
A couple follow up items first.
For those of you that made submissions, there was a link to make further submissions provided with the confirmation email you received. It is specific to each submission. Alternatively you can send your additional submission to john.thomson@parliament.govt.nz referencing your original submission.
More on what might be included is listed below.
All the submissions to the select committee have been published online here. There are 98 of them but not all of them will be related to FATCA. There is nothing in the title to indicate the subject, so you have to pick through them to figure it out. Several of us will be doing that over the weekend as a post mortem.
I know a couple folks that were in attendance, but there were several voices and submissions with “American accents” that I had not heard from before. If I get time, I might see if there is anyway I can reach out to them or make contact.
I wished there had been more Kiwi voices speaking up, but was thankful for the ones that were there. While I missed the first part of the hearing, and many other presenters were talking about other “remedial matters” , as they say, unrelated to FATCA. You had to wait through those.
It was gratifying to hear folks NOT in favor of FATCA. I was expecting a long list of Bankers making presentations about why this is all GOOD, but they were silent. There was one guy (bureaucrat?) at the end, (6th by my incomplete count) before the video cut out early, that was providing more details about the implementation process. He was explaining and answering questions from a government perspective how this would all work, sort of. He causally mentioned that they would get reciprocity, which raised NOT A QUESTION, and I was very sorry to hear that go unchallenged!
I got this note late on the night from Osgood, who is back to work and is time limited, so I am posting it for him.
He writes:
My Note: These two are both Labour MPs, and you might think they would naturally align with anything Obama wants, but the questions indicate an opening for at least listening to more arguments about why FATCA surveillance and capitulation is bad for New Zealand. They would be good ones to follow up with.
He further wrote..
Now, back to my comments:
Let me start with followup points to make in any additional submission…
1: The last guy in Osgoods comments indicated that IGA would be handled in the normal Treaty process. Obviously for the US, it is NOT a treaty and that is NOT so, so it is important for us to stress that.
2: He also said, the IRD would get Reciprocity. As we know this is a joke, and good salient arguments about how Reciprocity is aspirational only, but NOT in fact Reciprocity. This is an important counter point that needs stressing.
3. The U.S. Person aspect of U.S. Citizens. John Richardson really amplified this issue which was unclear up to that point in the hearing, however they still don’t fully understand why CBT combined with FATCA is putting them under IRS jurisdiction! Further comments should stress this point.
4. It seemed to me there was some questioning whether or not Parliament should be reviewing the provisions of the IGA and/or putting some limitation criteria on negotiations, rather than just handling it to the IRD bureaucrats to determine via a regulatory process, or at least that is what I think I heard. I think that is what we should be encouraging… full legislative action
The first point of my submission, THIS IS NOT A LITTLE REMEDIAL MATTER and needs full Parliamentarian review and vote. Without this, FATCA implementation remains pretty much stealth handled by the technocrats in spite of the good presentations in opposition that were made.
A couple comments about some of the presentations I heard… (my impressions only)
The first presentation was by a Kiwi that had an effective gimmick that was noted and commented on.. He came with his American wife, and American child born in New Zealand, and subject to CBT and FATCA reporting when they grew up.
It was noted, that this was the First baby EVER at a Select Committee hearing!
He had 4 main points he wanted to make, starting with the Human Rights and discrimination angle and ending with a counter proposal that the NZFIs should be allowed to chose if access to the U.S. Markets was what they wanted, and they could or could NOT be FATCA compliant without imposing it across the entire industry or discriminating against one class of residents.
They do NOT have to discriminate, but as a term of condition of accepting deposits, a Kiwi could be notified, that ALL data on everyone will be sent to the IRS. This is a market “free to choose” approach which then allows a Kiwi to decide, do I want that? If not, I will chose a FI that is NOT FATCA compliant.
He received a lot of questions on this, and some push back, but its value was helping them to think out of the box. FATCA IGA is a Bank Bailout (wished he had used those terms) and we need to stress them, as Bail Outs are a sound bite that generally speaking, I think,is taken negatively by drive by news readers! And in the sound bit war, we need as many negative attributes associated with FATCA as we can get.
Think of more of them yourself. FATCA = “Negative connotation”
As a first presenter, he did set the stage for those that followed, and really helped round out the understanding of what FATCA represented for New Zealand and its American tainted residents and the range of choices they had. This Helps counter John Keys No Options lament.
We need counter the FCC “you must comply” marketing message to get them thinking about other options.
The second presentation I heard was by the US girl via teleconference, with 5 points why she was opposed to FATCA. She was pretty good although a bit too gushy about the good NZ democratic process and missed a softball leading question about whether the Select Committee process was good enough for the matter at hand.
She brought up the U.S. Person aspect of U.S. Citizenship and broaden the misconception that FATCA only impacted a few U.S. citizens . I think the Select Committee still had not yet focused on that issue from the first presentation and her’s moved that understand along.
She had some the U.S. Person criteria wrong and too limited, and she had some of the terms of Expatriation exit tax wrong, (wished I knew who she was so I could educate her, as the committee wanted more information). She was strong and effective in her communication, and all in all the result was she got the committee thinking more broadly about who FATCA affected.
The 3rd Presentation that I saw, was a nervous American by birth who had lived in New Zealand most of her life, I think, and was applying for Kiwi Citizenship. She was making a personal presentation and said she had NEVER done anything like this before. She felt compelled to speak out, because how this would effect her husband and their normal joint accounts. His data would be sent to the IRS.
She was now going to have to look at renouncing her long dormant citizenship which she had never considered before, but maybe that would not be a big deal, as she loves New Zealand where she plans to live the rest of her life.
Again, because she was just an ordinary law abiding NZ resident raising her voice, I thought it brought the issue home to the committee members.
4th up was John Richardson He built on all the presentations before him and brought the CBT subject home for the committee members. Everyone that heard him remarked about how strong and effective his presentation was centering upon what accepting U.S. domination on NZ via Citizenship taxation meant for them. He gave some pretty good examples related to things they understood like Kiwi Saver and capital gains on home sales. He showed how allowing FATCA IGA imposition means a direct transfer of money out of the GNP of NZ back to the U.S. Treasury, and how the IRS now determines who they take that from via their control of the U.S. Person designation. That seem to really got the Select Committee attention.
The PFIC was a bit technical for them, but not belaboured. Since he was time limited he had to end before he made all his points, but did so politely and asked if there were questions, which there were.
His mentioning of TRUST impacts was GOOD, as family Trusts are a BIG financial tool down here. When they wake up to the fact these may be considered FFIs requiring FATCA compliance as Moody points out,I think that is a wedge issue we have not effectively used yet in our arsenal of arguments against FATCA.
Also the U.S. capital gains tax on sale of a home by a U.S. Person (Not taxed in NZ) means that money comes straight out of the NZ GDP and back to America. Housing price is where retirement money is stored, and this is another BIG issue for NZ that we need to hammer on!
John got a lot of good questions, and the Select Committee from previous presenters was obviously primed and interested in the Exit Tax provisions of renouncing your citizenship. They asked him for more information which I know he will be providing.
Questions were raised as “What should the NZ government request as a condition of signing the IGA, as if they think they can get something in this ONE WAY CRAM DOWN.
John suggested that Americans would be allowed to renounce without tax or penalty, and that is one condition they should demand.
I might state this differently in my additional submission.
Rather than allowing of U.S. citizens to renounce citizenship without costs as the first option, I think I would have that as the second.
Thinking about that, I have a slightly different approach.
1ST OPTION. Demand that U.S practice and apply FATCA on residents in America not on those living and working in NZ. End of story! Ask for the balanced and fair “international Norm”. Of course, the answer will be “Nyet”, but that strongly makes the point, at how one-sided and non negotiable and unreasonable the US demand is.
NZ makes a reasonable request, and the U.S. makes an unreasonable rejection! We need to strip the veneer of “bi-lateral” negotiation out of the FATCA IGA terminology. Setting that rejection up, makes the issue very very clear!
2nd Option, would be the John proposal of allowing U.S. Persons to renouncing without cost or exit tax.
Of course that will be met with another Nyet.
But, by a two step process, you want assure that NZ MPs and IRD Bureaucrats get the idea of how unreasonable and unbending America is in its demands! And you build some resistance to the hubristic stubbornness of this Administration.
Get America to insult the pride of the Kiwis and their conceptions of ‘fairness’. Make this an America to NZ FU moment.
5th presenter was an American living in New Zealand and was via teleconference. He just had one pointed question. Would you allow Eritrea and China to impose their FATCA (or maybe he said citizenship taxes. I am hazy on that now) on you, like you are doing with America? There was a bit of a chuckle, and the question was asked, Is this rhetorical? And he said no, he was looking for an answer, which I don’t seem to recall that he got! They asked if he had anything else, and he said no and hung up! The Elephant was clearly visible in the room after that.
The 6th was the unknown bureaucrat/technocrat(?) who told everyone without challenge that NZ would get reciprocity.
and that is all I can remember now…
Thanks Just Me and Osgood. Very valuable to ALL of us. Many of the points made, the critique, the difficulties with getting the audience to understand, and the ‘cute baby born into lifelong US serfdom’ , US taxation of non-US-home-as-retirement-nest-egg, as well as other strategic points are VERY applicable to Canada and elsewhere.
Kudos to John!
It’s a global problem. Much as I dislike New Zealand’s stealth approach, at least they have submitted this topic into a parliamentary system that has public input. The Select Committee MUST report back to parliament on the submissions and justify any actions taken. As far as I know no other country has yet done this, so I guess you have to give some credit for that.
My hope is that there will be some further (negative) developments for FATCA while the committee is deliberating. If other countries would stop signing these damned IGA’s it would be really helpful !
I read through a handful of the submissions to the NZ Select Committee. You can read the submissions here:
http://www.parliament.nz/en-nz/pb/sc/documents/evidence/?Criteria.Keyword=&Criteria.Author=Finance+and+Expenditure+Committee&Criteria.Parliament=-1&Criteria.Timeframe=&Criteria.DocumentType=&Search=Go
Most of the submissions from names that look like individuals are against FATCA.
There was an excellent paper produced by Allison Christians that was submitted under someone else’s name. It’s what I would refer to as a give-get analysis and does an excellent job of highlighting the joke of “reciprocity”. I hadn’t seen it referenced anywhere else. SIAP
http://www.parliament.nz/resource/0002172148
@Edelweiss
That is a good paper by Allison. Read it on her site… BTW The select committee is NOT done.
This bill is in front of the committee again on Thursday, 9:15am-1pm. It won’t be webcast this time (Room 3 has no webcasting). I can’t attend but do know several who aim to or whole time pop in for the first hour to see what is going on. They also will have a hardcopy list of the speakers that will be available. Will see if we can find out if it is just the FFI types pleading in that stealth closet again for their bailout.
I know of one person planning to speak about fatca at this session.
http://www.parliament.nz/en-nz/pb/sc/meetings/50SCOschedule1/schedule-of-select-committee-meetings