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The Isaac Brock Society

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. Slow and steady. Maybe it will happen. I just wish that they had stopped in the beginning because it was wrong for their own citizens. Oh well.

  2. Thanks, MuzzledNoMore and anonymous provider.

    USA and Automatic Exchange of Information
    EU Parliament will force US reciprocal reporting as per the IGAs with mini FATCA
    against USA, imposing 35% withholding on gross EU source payments.

    Good to see some smart people, assume outside government, put their heads together to come up with ideas for innovative push-back rather than just rolling over as countries did when they signed up for FATCA.

    Canada?

    What a sight to see countries stand up and finally say OK USA, but here’s what we will ask of you as well.

  3. This an hour ago,
    don’t think it’s been posted already?

    http://ipolitics.ca/2016/03/17/revenue-minister-could-have-to-face-committee-on-record-sharing-with-irs/
    ‘Revenue minister could have to face committee on record sharing with IRS’
    Elizabeth ThompsonPosted on March 17, 2016

    “Revenue Minister Diane Lebouthillier could have to face a parliamentary committee to explain her agency’s controversial transfer of 155,000 Canadian banking records to the U.S. Internal Revenue Service, iPolitics has learned.

    NDP Revenue Critic Pierre-Luc Dusseault is asking Parliament’s Access to Information, Privacy and Ethics committee to hold hearings on the transfer and its impact for the privacy of Canadians. Among the people he wants the committee to call to testify are Lebouthillier and Canada’s Privacy Commissioner Daniel Therrien.

    Meanwhile, Dusseault wants the Canada Revenue Agency to halt the transfer of Canadian banking records to the IRS as a result of the information sharing deal until Therrien’s assessment of the privacy implications of the deal is made public…….”………

  8. @WhiteKat

    “…that CBC will be looking at other measures, including the comment moderation process.” Well I have a few things to tell them about their comment moderation process…..it is pure unmitigated censorship and they need to be called out on this.

    The use of real names will certainly limit the comments from those being stalked in Canada by a Foreign government and abetted by the Canadian government.

  9. The use of my real name won’t stop me from posting comments at CBC.

    But I have been out of the FATCA closet publicly for a few years. I understand why others are not able to do that.

    It’s better than what some publications have done. London Free Press and other newspapers no longer accept any comments.

  10. @ Cheryl – “The CBC article is now closed but a real flurry of activity today (over 900) posts and lots appalled at the FATCA stuff.”
    Yes, but does anyone at the CBC actually read the comments? And will this make any difference in their reporting? They know the Liberals will not talk to them about FATCA so how long will they pursue this thorn in the Charter and the inept behaviour of the Minister(s) on this topic?
    If you (or anyone else) know some way to pressure the CBC to notice and seriously consider all these comments, please advise us.

  11. @WhiteKat @Charl

    U can always get another email addy for posting to CBC…. Instead of using the handle… kissmybutt…. u can become… Jane Smith… Jayne Smythe… Jane Knows… u get my drift… lol…. to be a word other then witch… I saw a real name that had 28 letters for the last name… I thought my kid was a moron & couldn’t spell… but the stinker actually found it on the internet to bug me… he can’t find his shoes but he can find cuss words & weird words… geez

  12. @ Calgary411 – RE EU Parliament will force US reciprocal reporting
    This information should be sent immediately to all the relevant MPs to wake them up.

  13. @ Badger (and all) – RE ‘Revenue minister could have to face committee on record sharing with IRS”

    WOOOOOOOOHOOOOOO!!!! Things are warming up.
    We all should send letters of thanks to Dusseault (with copies to all the relevant ministers). Now is the time to bring it all out to everyone’s attention!!!
    Thanks so much for making my day!!!

  14. @LM. I corrected it after I accidentally was looking at comments from an old FATCA article. I don’t have any special ideas. I tried many times in the past to get the CBC to cover this with no luck. However, we seem to be getting a little more traction now and there are things happening elsewhere so keep trying seems to be the only thing to do.

  15. @ Charl – so pseudonames will be banned – – does that mean you have to use your full legal name? I have a very unusual last name and would hesitate to put anything out there with my full legal name even tho I am fully renounced. But if I can list only my first name……… Guess I’ll have to go back and read the article tomorrow morning….

  16. @Cheryl Don’t get too excited. We have been here many times before–from Jim Flaherty’s initial strong words against FATCA to the proposed amendment by Liberal and NDP MPs to our day in court with Justice Martineau to Justin Trudeau’s election after his letter to me and the numerous anti-FATCA comments of Fibbing Libs.

    Yet here we are with 155,000 records handed over to IRS and the Liberal Minister promising more to come in 2016.

    Plus, Department of Justice advised Joe Arvay that their instructions from the “Child of the Charter” Minister had not changed despite all the strong statements Libs made against FATCA.

    I would like to believe things may crack. But I’m not optimistic.

    A Liberal Hypocrite is a Hypocrite is a Hypocrite.

  17. @All

    Lots of activity lately. John Richardson interview, articles, comment sections.

    It appears to me a major point is missed. Lots of focus on privacy and handing over the 155,000 records. But very little on what the IRS may do with that information and tax and compliance implications. Very little on even what the US tax and compliance is.

    Some may say privacy and say so what as implications for Canadian wallets are not broadcast.

    The two key witness testimonies for the summary trial were Allison Christians on the the compliance and tax requirement of CBT, and Robert Wood on what the IRS may do with that information. I thought that this was to be a major part of the script?

    Interesting one: while the Tax Treaty says that the Canadian Government will not help in the US collection of tax debts for Canadian Citizens for debts after they moved to Canada, isn’t the providing of the account information from the CRA to the IRS assisting the IRS in tax collection (why else would such information be provided? The only reason for providing the information) and a violation of this treaty by the Canadian Government! So the government appears to have violated a treaty approved by Parliament.

    Here is a nice one by John Richardson:
    https://twitter.com/JCDoubleTaxed/status/710675086567546880

    Lynne Swanson on Twitter has been through two days of a veritable fusillade (single person I may add) against members of government for hypocrisy and injustices. Dozens of these: https://twitter.com/LynneBlaze/status/710674116752179203

  19. http://ipolitics.ca/2016/03/17/in-a-nasty-world-trudeaus-narrative-wins/

    Meanwhile, yet another fascinating article and comments thread in iPolitics asks:

    How are national myths created? The classic recipe is one part fact, one part spin, one part time (and the memory loss that usually accompanies it). In Canada, add one part opposition: in the last fifty years, our national myths have usually involved some contrast to our southern neighbour, the United States. They have served to define us in a sea of American economic and cultural influence, transform our inferiority complex into a superiority complex, and try to answer the eternal question: just what is it to be Canadian, eh?

    I won’t even begin to go into the rest of the essay – better to read it yourselves – but you should also read the comments. It is quite ironic that this piece has come out on the very same day that we hear that Canada’s Privacy Commissioner and Revenue Minister may both be invited to explain themselves before Parliament’s Access to Information, Privacy and Ethics committee for their roles in turning over the private financial information of 155,000 Canadians to the United States government.

    Please dive in and take a look. I’d love to see some Brockers walk into the room and start telling a few of OUR stories about the differences between Americans and Canadians.

  20. It seems the “reverse mini FATCA” proposal comes from the Tax Justice Network, who published a paper “Why Europe should impose withholding taxes on payments, to crack open secretive tax havens” in Jan 2016.

    A withholding tax: lessons from the U.S.

    With FATCA, the U.S. wields a big stick. In essence, any US-sourced payment to a foreign financial institution that doesn’t participate in FATCA will have a 30 percent tax withheld on that payment. That is a huge incentive for those financial institutions – and by extension other countries where they operate – to play ball.

    Yet the CRS – which is technically almost a copy of FATCA – did not include this big stick, though we urged the OECD to include it3. So tax havens like the United States only have weak4 incentives to supply transparency.

    This leads to ironic and odd situations. Under the IGAs signed between the U.S. and each EU country, EU financial institutions must not only collect and report far more information than their U.S. counterparts need to, but only EU financial institutions are sanctioned for non-compliance. And the EU’s own financial centres are losing assets to more opaque jurisdictions – especially the U.S. Meanwhile, tax evasion and other crimes proliferate. Why would powerful European countries agree to such a terrible state of affairs?

    The European Union holds the key to changing this. It could establish a withholding tax scheme, similar to FATCA’s 30 percent, on all EU-sourced payments to financial institutions located in non-compliant financial centres until they implement the CRS (or equivalent levels of information exchange, in the U.S.’ case) with Europe and vulnerable developing countries. Or, as a narrower proposal, the EU could initially target U.S. financial institutions with a withholding tax scheme, before rolling out withholding taxes more widely.

    http://www.taxjustice.net/wp-content/uploads/2013/04/TJN2016_WithholdingTax.pdf

    The chances of this becoming EU law seem slim, but it could lead to some interesting debates.

  22. @usxcanada

    Thanks to you and Blaze for the reminder not to get our hopes up too high. Still, I couldn’t imagine not having done what we’ve done in the past to try to correct these injustices. Perhaps it’s not so much that our efforts have been futile, but in choosing to be disappointed by their apparent lack of results. Maybe they need be in conjunction with something else to make the whole thing gel. Any suggestions?

  23. Of every non-productive thing I’ve done regarding my family’s US CBT issues at this site and others, etc., I just could NOT have sat back, ignored and done nothing — implying I’m OK with it for myself, my family and others without a voice. Not trying to do anything I think would have driven me insane.

    I, too, welcome any suggestions.

  24. I can’t believe that it’s all been for naught, Calgary411. I consider it more as solidifying a foundation.

    It’s our choice to be disappointed or not. No one can throw salt in our wounds if we have none to show.

    SURGITE!

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