New Democrats are calling on the Conservatives to acknowledge the concerns with the U.S. Foreign Account Tax Compliance Act (FATCA) and agree to remove it from Budget Bill C-31.
“Despite broad opposition, the Conservatives are charging ahead with the implementation of this agreement,” said NDP National Revenue Critic Murray Rankin (Victoria). “Serious concerns remain about the potential violation of privacy and constitutional rights, as well as unknown costs to Canadians.”
Bill C-31 moves to implement the Canada-US intergovernmental agreement on the FATCA and also to grant the Minister of National Revenue sweeping powers to make any regulation necessary to carry out the agreement.
“How can the Conservatives justify burying this agreement – that could negatively affect 1 million people and that has nothing to do with the budget – inside a 359-page omnibus bill,” said NDP Finance Critic Nathan Cullen (Skeena—Bulkley Valley).”There’s no excuse. FATCA must be removed from the budget so it can be properly scrutinized.”
http://www.ndp.ca/news/conservatives-must-remove-fatca-budget-bill
Great comments by the NDP. Don’t hold your breath that the Harper dictatorship will listen, however. The only real hope resides in the next election — and what I hope will be the political destruction of Harper and his cabinet. Or the Charter challenge, but I very much doubt that will get settled before the next election. Canada and our Canadian parliamentary democracy simply will not survive in any recognizable form if the Conservatives get re-elected.
A further thought — I realize it’s early days yet (the NDP webpage dates these comments @ today — but it would be much more effective if MSM picked up on this. No one other than NDP stalwarts (and even not some of them like me) check the NDP website regularly for these announcements, so on that website they’re largely singing to the choir.
If anyone reading this has established connections with MSM reporters, please call this to their attention. I’d hope the NDP press office is also trying to get coverage, but I’m not sure how much traction that has.
Harper promised to change Canada beyond recognition. The sooner we see the back side of him the better.
Media coverage is critical – I can’t see any but the extremely ill-informed being in favour of this kind of legislation.
Politically, I would think that Harper and crew would see the political benefit of bringing this into the daylight.
They have everything now to gain by being open since the cat is now out of the bag.
@George
What can they say about it that they haven’t said already, that they had no choice but to enforce the US’s laws against Canadians, or it’s necessary for the great fight against offshore tax evasion? Seems like our government is in a paradoxical situation where support for the FATCA IGA pro-American stance depends on selling enough anti-American propaganda to the Canadian people.
@George, exactly what would Harper gain when the whole truth comes out?
Canadians will find out that he was willing to surrender our sovereignty one big piece at a time with no open discussion with Canadians about why it’s necessary for Canada to stop being a sovereign nation.
He went from being the victim of US aggression to being a party of the aggression against a large portion of the Canadian population. I think they call that treason.
What will the US demand after this? Will they threaten us with FATCA sanctions like they are doing with Russia if Canada chooses not to go to war against a country that the US wants to declare war against next?
The NDP (and probably Scott Brison of the Liberals) will be questioning Finance Canada Officials at the Finance Committee today. Turn on your computers at 3:30!
http://maplesandbox.ca/2014/canadian-house-of-commons-finance-committee-meeting-on-fatca-today-33-to-530-pm-edt/
@Schbert: According to an e-mail I received from Murray Rankin’s Assistant, that news release went out to the media.
Will the media pick up on it? Rob Ford’s escapades are back in the headlines, so what do you think?
@ omgheestillanamerican, I agree,
Harper is not going to be able to credibly explain why he agreed to sign on to FATCA if the US has now admitted that it chooses to use it as an economic weapon elsewhere in the world for purposes entirely OTHER than the already flimsy tax ones they claim – AND ironically the US is wielding it against a country who has expressed interest in negotiating re an IGA (but remember, has said they also want actual reciprocity).
Doesn’t bode well for Harper – who has to at least pretend that he stands on guard for Canada and Canadian sovereignty and isn’t just a collaborator in bed with the US, whose main agenda item is surrendering our border and laws to US ‘harmonization’, and promoting the tarsands oil and the pipeline – no matter what the cost – to the environment, to Canadian society, to Canadians in general. This latest FATCA development just further shows the world that the US cannot be trusted. Their intentions are suspect and their favourite modus operandi is ‘might makes right’. Their ‘agreements’ aren’t worth the paper they’re written on. That combined with the uncertainty about whether Treasury even has the authority to enter into the IGAs, whether the Canadian IGA’s terms will be challenged by the US as not compatible with the way terms are defined by FATCA, whether US FIs and non-FIs will be forced to even somewhat comply to provide reciprocity, etc.
Levin and McCain’s letter further taints the already dubious FATCA, and should make signatories like Canada’s Harper very uneasy. The use of FATCA as a weapon is unreconciliable with the happy baseless claims from Conservative MPs that a FATCA IGA was ‘good news’ that they were ‘thrilled’ to report. Levin and McCain’s comments work against all the propaganda that Treasury has tried so hard to use to cover up the true nature, purpose, mechanisms and consequences of FATCA.
FATCA is extortion – whether with an IGA or without. FATCA is the US demanding a free lunch AND protection money from the rest of the world.
If I was Harper I’d think about whether FATCA is going to backfire in his face bigtime – because of the legal challenge – which his critics will greet with glee – as evidence of the Conservative’s dedication to subversion of the democratic process – another unconstitutional law imposed via omnibill and likely vulnerable to challenge, in consultation with Banksters but not taxpayers. And though the Conservatives hoped to let FATCA slip by unnoticed until Canada Day enforcement, having FATCA in the news re Russia just raises more attention to exactly what the US is up to with it.
Great timing of Levin and McCain’s stupid and arrogant threats for the US to REFUSE to negotiate the very US FATCA IGA they previously wanted Russia to sign on to – now, in order to provide some flimsy justification for unleashing the already extortionate economic sanctions of FATCA as their Weapon of Economic Destruction – as the result of the US REFUSING to negotiate the very same type of FATCA IGA agreement they THREATENED Canada and all the rest of the globe to hurry up and sign is so absurd and egregious that it helps to demonstrate that the US is capricious, irresponsible and unpredictable.
And, Canada is pretending that entering into the US FATCA IGA was some kind of necessary precursor to the Common Reporting efforts of the OECD. Difficult to maintain that facade and simultaneously explain away how the US wielding CBT and FATCA as a clear Weapon of Economic Destruction is congruent with achieving a GLOBAL, VOLUNTARY, DESIRABLE, MUTUALLY BENEFICIAL multilateral information sharing agreement based on RBT?
what is the percentage that the New Democrats hold in Canadia?
NDP are the Official Opposition in Parliament They hold 99 of 308 seats. The Liberals hold 35 seats. Bloc Quebecois and Green Party each hold 2 seats and Independents hold 3 seats.
http://www.parl.gc.ca/senatorsmembers/house/partystandings/standings-e.htm
So, even if they all banded together to say no to FATCA, they do not have enough votes in a majority government.
That is why it is important we try to get the amendment suggested by Anne Frank approved. Will the Cons vote for it? Not likely. If they vote against an amendment to protect Canadian citizens and residents, it will send a really strong message.
At the Finance Committee, the Cons have six seats, NDP three seats and Libs one seat. One of the NDP members is working on getting the amendment put forward, but I don`t know how likely it will be to pass with a majority of the members Cons.
Scott Brison is working on getting the amendment put forward.
I`m watching the Finance Committee meeting right now, but I haven`t heard anything about FATCA yet. I may have missed it because I came in about 20 minutes into the meeting, but based on the order they are addressing issues in C31, it does not seem that they have dealt with it yet.
Why can’t we donate to rent a hall and have our own debate on Fatca? this can be carried LIVE once we invite the media. Is this a dream or is it possible?
Tyler Durden’s picture
Martin Armstrong Asks “Are We Headed Into Global Fascism?”
http://www.zerohedge.com/news/2014-05-01/martin-armstrong-asks-are-we-headed-global-fascism
“The future of the present and younger generations is being systemically wiped out and therein we will discover the seeds of revolution.”
@Blaze, this is starting to get exciting. Darn Rob Ford and his antics. Why is it that whenever we have something going on, he gets in the way?…just like at the bank protest when all the US media was in TO focusing on him.
@NativeCanadian, that sounds like a great idea! Of course someone would need to take the ball and run with it.
Martin Armstrong Asks “Are We Headed Into Global Fascism?”
http://www.zerohedge.com/news/2014-05-01/martin-armstrong-asks-are-we-headed-global-fascism
“The future of the present and younger generations is being systemically wiped out and therein we will discover the seeds of revolution.”
@Blaze, Maybe Rob Ford is a plant, put in TO by US Treasury to distract Canadians while FATCA gets rammed through parliament….not really, but sheesh.
@Blaze
Nothing yet. They are trying to get other items out of the way so they can start brawling. Hope its bloody
They just finished talking about tarriffs on pizza products at Finance Committee. Nathan Cullen said earlier the NDP was going to forgo questions on other issues to be able to get to FATCA.
Scott Brison made it clear tax lawyers don’t like FATCA Murray Rankin is asking about “accidental Canadians,” people married to “US persons.” etc. Rankin also asking about Privacy Commissioners. Asking about if they have commissioned independent legal opinions on privacy,
Brian E is promoting changing Canadian laws to override privacy.
Saxton (Con) is asking about the ‘consequences” without an IGA. Brian E, of course, is cheering on the IGA.
AGGH: The video just seized. Is anyone else able to get it?
Fine over here…. They are not sure if they can override the Charter rights… wow!
Brian Ernewein the weasel from Department of Finance when asked about charter issue and if they’ve had a legal opinion about it said something to the effect the charter issue has been examined but he is not at liberty or qualified to speak to the opinion.
So basically he weaseled out of answering the question. That means they know there’s a charter issue here that they would lose in court but they don’t want to let everyone know that they know that. Unreal!
@NC: What did they say about Charter?
That Kenny or Adler guy terrifying. He calls us American citizens living in Canada and is promoting privacy violations through the CRA involvement. He said many Americans living in Canada have been filing US returns for years, so what’s the problem. If you don’t like it, renounce.
Brian E is still Chief Cheerleader for the IIS.
Rankin is dealing with Charter, referencing Hogg and Arvay.
Brian E is cheering on overriding privacy laws.
Direct answer is “It has been examined.”
Mr. E won’t answer the question about the Charter.
Rankin: “Inequality’.
Rankin; “Quite Shocking” no cost estimates when Opposition asked. Now BE says $715,000 annually.
BE; Banks consider “superior” in terms of what would have happened without IGA.
Saxton asking about “accidentals” and others but promoting the issue of CRA will not collect.
@Badger: From your comments:
“provide some flimsy justification for unleashing the already extortionate economic sanctions of FATCA as their Weapon of Economic Destruction – as the result of the US REFUSING to negotiate the very same type of FATCA IGA agreement they THREATENED Canada and all the rest of the globe to hurry up and sign is so absurd and egregious that it helps to demonstrate that the US is capricious, irresponsible and unpredictable.
And, Canada is pretending that entering into the US FATCA IGA was some kind of necessary precursor to the Common Reporting efforts of the OECD. Difficult to maintain that facade and simultaneously explain away how the US wielding CBT and FATCA as a clear Weapon of Economic Destruction is congruent with achieving a GLOBAL, VOLUNTARY, DESIRABLE, MUTUALLY BENEFICIAL multilateral information sharing agreement based on RBT?”
IF one reads the OECD aims in implementing GATCA one would know without doubt they have no intentions whatsoever in “achieving a global, voluntary, desirable, mutually beneficial, multilateral information sharing agreement based on RBT”
FAR from it. The initiative at OECD is at the behest of the G20 and is funded by $100 million of US Taxpayers. Those implementing the GATCA due to come into force in Sept. of 2014 intend to get the information from all individuals, corporations no matter where they are in the world. The net of information is all inclusive and includes personal , financial and any and all other information the OECD deems necessary and they have made plain that they intend to get everything they can get and they will be sharing that information with the 34 countries that make up the OECD including thugs and dictators. They will also use ‘third party’ information gatherers for the perusal and use of these very thugs and dictators. They hardly have anyone’s best interest at heart except for the ease of being able to fleece the unsuspecting and innocent from all corners of the world. They make it plain also that their real aim is in the ability to administer ‘harsh’ penalties for ‘non compliance’.
So, if you object to your information being passed on without your consent or knowledge to the corrupt, criminal and unscrupulous of the world, they will hit you with huge non compliance penalties that are anticipated to be delightfully huge and they rub their hands together at the prospect of the fleecing they anticipate will begin in Sept.
So, lets not kid ourselves that going from CBT FATCA to RBT GATCA will be anything BUT jumping from the frying pan into the fire.
@ badger
Great comment. I referred to FATCA being used as a sanction (or weapon as you call it) in one part of a mass mailing to all NDP MPs to thank them for this initiative (will send it out later). Wish I could watch the HofC Finance Committee video live but it doesn’t work. I can usually watch these things after the fact when someone posts the URL though. Meanwhile I need to get out to enjoy the sun today before clouds, rain and snow descend on us for the next 6 plus days.