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Media and Blog Articles Open for Comments – Part 3 of 11 (Year 2016)

You can access all years at this link: Media and Blog Articles – Links for All Years

 If clicking on a comment link brings you to the wrong comment, click here  to get on the most recent page of comments.(alternatively, to reach the most recent comment page, go to  the url in the bar at the top of your browser and delete everything after http://isaacbrocksociety.ca/media-and-blog-articles-open-for-comments-part-3-of-3  )

Media and Blog Articles

EmBee suggested that it would be good if there was a thread for new articles, so that people would be aware of where to comment. So, I created this permanent page.  You could mention such articles in the comment stream for this page, or if I see one on another thread, I can copy the link to here. I’ll keep adding to the list, but not deleting, so we’ll end up having sort of a  “bibliography” of FATCA/CBT articles.  [Note:  Some articles are not open for comments]

For more articles on FATCA, enter FATCA into Google then click on the link “more news for fatca” just below the most recent featured article.

Note also: JC suggests to see #FATCA on Twitter for latest breaking news. JC finds that is quite a good source and there even are some international articles that one may read using Google Translate.” Others may help certain tweets and articles remain in elevated position by retweeting them.

Be sure to read the comment stream for this thread — there are usually very recent articles mentioned there that aren’t on this list yet.

2016.12.29
Switzerland moves further to end bank secrecy, Financial Times, UK.
2016.12.23
How FATCA Infringes and Trammels our Statehood, Stephen Kangal, Trinidad and Tobago News, Trinidad and Tobago.
Barclay’s chief preparing to take a stand against US regulators over unduly high fines to European banks, James Quinn, The Telegraph, UK.
2016.12.22
Canada refuses to name bank that broke money laundering rules 1225 timtes, Mike De Souze, Robert Cribb & Marco Oved, National Observer.
Financial Intelligence agency gave bankers head up about money laundering disclosure, Mike De Souza, Robert  Cribb & Marco Oved, National Observer.
2016.12.21
US citizens may pay double tax on Kahlon’s child savings program, Michael Zeff, Jerusalem Post, Israel.
Applying to be Swiss in the Trump Era, Steve Krump,  SwissInfo, Switzerland.
2016.12.20
File That Tax, Boom Chicago, YouTube, Netherlands.
Tijuana City Councilman Faces US Money Laundering Charges, Sandra Dibble and Dana Littlefield, San Diego Union, US.
2016.12.19
Senate Report Finds IRS Agents Living Large on Public’s Dime, Guillermo Jiminez, Tax Revolution Institute, US.
AG to UNC: Come to Parliament first – a Joint Select Committee to deal with FATCA . . ., Ria Taitt, Daily Express, Trinidad.
Rand Paul criticizes framework of tax reform plan, Naomi Jagoda, The Hill, US.

Articles from earlier 2016 are at this link

Articles from 2015 are at this link

Articles from 2014 are at this link

Media and Blog Articles  thread, Part 1 of 3, is at this link.

Media and Blog Articles thread, Part 2 of 3 is at this link.

 

2,818 thoughts on “Media and Blog Articles Open for Comments – Part 3 of 11 (Year 2016)”

  1. @ Charl
    RE: T&T article. Yep, it’s a good one. Since I’ve FACTA’d FATCA myself a few times I can ignore that common little typo by Mr. Kangal. My comment is in moderation. Many thanks to you for keeping your keyboard so active for so long and have a MERRY CHRISTMAS. May it be both festive and restful, if possible. 🙂

  2. Thanks EmBee, same wishes back atcha and to all the FABULOUS folks at IBS. (Restful is not in the cards but Merry certainly is)!

    Prophecy from a wise crone: 2017 will be the year we beat this. We’ve all got to up the ante and throw everything we’ve got at every single wall we can find.

  3. Not quite restful for us either with lots of snow to shovel but tonight there will be a warm Christmas Eve fire to enjoy. I like your prediction but it won’t happen with a finger snap. It’s going to take sustained effort and I hope we’ll all do whatever we can, each according to our abilities, to make it happen.

  5. http://www.taxanalysts.org/content/tax-analysts-exclusive-conversations-koskinen-looks-future-tax-administration-irs-budget
    Dammit I wished this little weasel had been impeached.

    TA: Related to that, does the usefulness and information coming from FATCA play a role in deciding how the OVDP will be formulated going forward? The GOP platform has mentioned repealing FATCA. How would that affect the role of the OVDP and streamlined filing compliance?

    Koskinen: Well, FATCA by itself is a more regular way of collecting data from companies. If you repealed it, we’re still involved in increasingly international exchange of information developments. We’re going into country-by-country reporting for corporations next year. So we will continue, with or without FATCA, investigating banks and operations around the world, but I think FATCA has again become valuable for people, and I’d be surprised if it got repealed at this stage because it’s now up and running. And I think most people understand all it’s doing is saying, wherever you are, if you have U.S. tax obligations, you need to meet them, and you can’t simply forget about them or ignore them. And a lot of FATCA isn’t international. A lot of FATCA is domestic noncompliance. A lot of people engaged in hiding money in Switzerland or the Cayman Islands live in the United States.

    So I think it’s an important area for us to continue to pursue. But back to the earlier question, it’s important for taxpayers generally to know we care a lot about everybody paying their fair share, and anybody who is trying purposefully to avoid the tax code and their tax obligations, we’re unhappy with them. We’re going to chase as long as it takes. If you’re trying to become compliant, we’ll work with you. But if you’re trying to avoid taxes and not be compliant, then we’re going to actually keep chasing you.

  7. FT: “Switzerland moves further to end bank secrecy
    Switzerland wants to update a tax deal with the US next year to allow the automatic, two-way exchange of information about bank accounts between the two countries, a senior official in Bern has said.”

    That’s just wishful thinking by a Swiss government official.

    A reader’s comment: “Nearly all the FATCA inter-government agreements (IGA) signed by the US Treasury are apparently illegal as Congress did not approve them, so there will be no reciprocal reporting by US banks to IGA counterpart countries who have all been duped, including the UK. This appears to have been verified by the US now stating that they will not sign-up for the Common Reporting Standard (CRS), which they sponsored through the G20, which the OECD at the request of the G20, is now implementing across the globe.”

    https://www.ft.com/content/890a4262-c795-11e6-8f29-9445cac8966f

    or open from Google by searching on “Switzerland moves further to end bank secrecy”

  8. EmBee: “…it’s important for taxpayers generally to know we care a lot about everybody paying their fair share, and anybody who is trying purposefully to avoid the tax code and their tax obligations, we’re unhappy with them. We’re going to chase as long as it takes. If you’re trying to become compliant, we’ll work with you. But if you’re trying to avoid taxes and not be compliant, then we’re going to actually keep chasing you.”

    And THAT is why, FATCA or no FATCA, CBT *has got* to go! Koskinen and all the rest of his IRS cronies can go to hell. I pay my fair share in Canada and no where else. The threat against me and all others like me in this quote of his is precisely why I will not darken the door of his country until the hounds are called off.

    Godspeed to our advocates who will be speaking for us next month in Washington.

  9. JC: Thanks for posting the Heitor David Pinto paper. I hope it’s been published (i.e. sent to) somebody or some body that is in a position to act on this matter. Do you know if the folks on the Trump team have received it? They should!

  11. @ MuzzledNoMore and Polly
    I get prickly when I hear or read the word “compliance”. “Fair share” makes me say “Meh!”

  12. @Embee
    There is just nothing fair about it. Even Nina Olsen said so. If homelander’s were faced with FATCA they would revolt.

  13. EmBee and Polly: Yeah, both “fair share” and “compliance” make me turn green.

    “Revolution”, on the other hand, is a word I currently embrace. “Non-compliance” is *an act* of defiance against CBT. It is one of the only courses of action open to some of us. It’s our way of dumping tea into the harbour!

  14. @Muzzled, I am sick of the subtle racist comments when talking about nationality. A Canadian IS a Canadian is a Canadian and when a Canadian is not a Canadian they are being treated to a very evil form of racism.

    When a man from Kenya takes the Oath of Citizenship and a woman from Iowa takes the Oath of Citizenship they are solely and absolutely Canadian in their new country equal in all regards o each other and equal to someone who is third generation Canadian.

  16. Another good one out of T&T by Stephen Kangal:

    “What loss of value can we place on the regressive diminution of our sovereignty, political independence and the independent functioning of our Parliamentary democracy by the use of duress, reprisals, threats, interference in our internal affairs etc? Our integrity as a nation-state is under attack from an external force bull-dozing its way on us with threats and reprisals associated with the Munroe Doctrine of yesteryear.

    Are we still living in a globalized village, borderless world with reasonable expectations for mutual respect and interdependence of nation-states that are being dismantled as a cost to us by FACTA dictat?”

    http://www.trinidadandtobagonews.com/blog/?p=9882&cpage=1#comment-69157

  17. @Charle
    Absolutely! The height of hypocrisy to close down tax havens only to create one`s own! Back in 2008 or so, Al Jazeera already wrote that America wants to get Switzerland`s clients.

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