A paper detailing the Costs to Canada of the FATCA Agreement has been compiled and is now available. One of the two co-authors is a retired professor of economics at McMaster University. A separate document showing how the Average Annual Tax Payment was derived is also available.
This paper provides useful support for Brockers interacting with Members of Parliament as well as important information for journalists.
Here is the introductory paragraph:
This presentation is constructed to demonstrate the amount of money destined to leave Canada ANNUALLY as a direct result of compliance with the United States Foreign Account Tax Compliance Act (FATCA) regime. This money, instead of circulating in the Canadian economy, being invested to benefit Canadians or remaining in Canadian savings accounts for the future financial security of Canadians, will be paid directly to the United States Treasury where it will benefit THAT country’s residents. Another scenario is that it will be paid into the US Treasury and disappear as a meaningless footnote in the attempt to pay down its impossible multi-trillion-dollar debt.