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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. This April 4 interview with Allison Christians on The Exchange was mentioned in a comment but I’m not sure that the link has ever been posted. The Panama Papers segment was the initial segment of the show and Allison’s is the second interview of the segment. http://www.cbc.ca/player/play/2686280012

  5. As long as we’re perusing the Panama Paper story, there’s another aspect (real or imaginary … who knows which?) to think about. The voice on the video almost sounds computer generated. It’s easier and faster to skim the video notes under “Show More” to simply read the whole thing.
    https //www.youtube.com/watch?v=Q97_HgV2Hz8
    (replace the colon after https)

  6. @Charlie

    Thanks for posting that link to the Epoch Times article. I saw it last night in the print edition at my local Loblaws, of all places. Front-page story, no less:

    Very heartening to see that the media is finally beginning to connect the dots:

    “The United States gets information through the Foreign Account Tax Compliance Act, but doesn’t have to supply information to other countries. This has effectively made it one of the world’s biggest tax havens.”

    Next dot: The immorality of CBT and how the US treats its diaspora as runaway slaves, setting yet another great example for the rest of the world.

    We need to inundate these articles with comments.

  7. @ Deckard1138
    George Soros and his ilk might just be wondering if their Panama Papers gambit is becoming a boomerang. There are many news sources shining a light into the shadowy existence of US tax havens.

    BTW, one of the individuals on the selectively exposed hit list is the PM of Iceland who helped to actually get some banksters into prison. Contrary to newsy gossip he has not resigned, merely stepped aside for awhile. He and his wife had a legitimate overseas account which was declared and taxes were paid …
    http://21stcenturywire.com/2016/04/08/atlanticist-elites-tried-to-smear-icelandic-leadership-with-panama-papers-limited-hangout/

    In recent weeks, the Prime Minister and his wife have provided detailed answers to questions about the assets of the PM’s wife. They have never sought to hide these assets from Icelandic tax authorities and these holdings in Wintris have been reported as an asset on the Prime Minister’s wife’s income tax returns since 2008 and taxes have been paid accordingly in Iceland. No Parliamentary rules on disclosure have been broken. Even The Guardian and other media covering the story have confirmed that they have not seen any evidence to suggest that the Prime Minister, his wife, or Wintris engaged in any actions involving tax avoidance, tax evasion, or any dishonest financial gain.

  10. @Deckard1138
    It is interesting in that Washington Post article that they only mentioned a “Hollywood mogul,” as if he were some obscure person nobody had ever heard of. It turns to be David Geffen, founder of DreamWorks, who has been very active as a fundraiser for the Democrats. Fortunately for both Democrats, he decided not to back anyone this year, but WashPo seemed to be pulling its punches a bit.

  11. Leak of records of Turkey residents and Panama Papers related?
    For that Turkey one that was a bit questionable as to why it was done. The people who did it even complained that the database was not formatted right.

  15. badger,

    Tax Connections, April 11, 2016, “Commentary on the The Panama Papers & The Disclosure of 14,000 Clients’ 214,000 Offshore Companies Files and Assets”

    “When the complete list of 14,000 persons and each’s connections to offshore assets is published in early May by ICIJ, expect a free for all by the criminal investigative departments of the revenue authorities from the 200 countries uncovered in the files,” said Prof. William Byrnes of Texas A&M University’s School of Law.  “This is the fifth major, game-changing, leak of offshore records, including Portcullis Trust (Singapore), HSBC, UBS, and LuxLeaks.”

    “When all the leaked data is combined with all the thousands of taxpayer and offshore advisor files gleaned from offshore voluntary compliance and non-prosecution programs, then crunched with AI (artificial intelligence, or neural network) programs that “connects the dots”, many additional politicians and business leaders are going to be exposed to criminal and civil tax and corruption investigations.” continued William Byrnes.  “I think many have been trying to run out the clock by suppressing this information.  For some countries that strategy may work, but others countries will experience televised perp walks and political backlash.”

    Professor William Byrnes added, “I expect to see investigations and prosecutions of attorneys and staff of Mossack Fonseca, and eventual extradition.  Perhaps the firm will enter into nonprosecution agreements with governments, pay a fine, like the Swiss banks and several Big 4 accomplished, and turn over its remaining client files.  It may be an end to the firm, but when its partners and staff are faced with a choice of either US and other countries long term prison sentences or providing evidence against clients, the clients are going to be ‘thrown under the bus’.”

    **download here for free Prof. William Byrnes 118 page in-depth analysis of tax information exchange, FATCA and CRS **  “In the field of international tax, Prof. William Byrnes is among LexisNexis’s best-selling authors and a leading authority in the fields of anti-money laundering and FATCA compliance.” Ray Camiscioli, Esq., Director, Product Strategy & Development for Tax,Accounting and Estates/Elder Law, LexisNexis, Inc.

    Professor William Byrnes pivoted in the discussion, “The US has a highly successful international financial service industry that is important to the US economy, exemplified by, firstly, the international financial centres such as Miami and New York) of over a half trillion dollars of foreign deposits of high net wealth individuals whom many experts allege are not tax and exchange control compliant in their home countries; secondly, over 900,000 Delaware companies is the second to Hong Kong, and ahead of British Virgin Islands (BVI is actually third in the world);[1] and thirdly, the US territories’ offshore regimes, reducing the effective US corporate and income tax rates below 3.5 percent.[2]”

    “In 2011, 133,297 businesses incorporated in Delaware.  Delaware has more corporate entities than people — 945,326 to 897,934,” he continued. “These absentee corporate residents account for a quarter of Delaware’s total budget, roughly $860 million in taxes and fees in 2011.[3]  Moreover, the economic spill-over impact for Delaware includes substantial employment and professional fees to Delaware business participating in the incorporation and advisory industry. Delaware is just behind China’s Hong Kong in number of annual incorporations and overall incorporations, and well ahead of the UK’s Virgin Islands (British) both in terms of offshore business and the dollars earned from that offshore business.  Thus, I wonder how many of these Delaware companies, and Delaware corporate service providers, will be exposed once the data is disclosed by ICIJ in May?”

    On my to-do list today is the reading of Professor William Brynes paper (** above). Is it the one your previously referenced in a comment here?

  16. The April 18 Maclean’s Magazine Editorial focuses on how the Liberals are tearing down subtantive policies of the Harper government. In response, I sent them the following letter (do jump in and join this opportunity to post a national comment):

    While the Liberals may be “quickly and thoroughly … eliminating almost all traces of Stephen Harper’s nine years in office”, they have turned 180 degrees from their pre-election stance to now shockingly maintain the Harper FATCA agreement. That is, Mr. Trudeau and his party have betrayed their pre-election promises and chosen to keep in 2nd class citizenship 1 million Canadian citizens / landed immigrants who have even the slightest “US taint”. This includes a multitude of “Accidental Americans” (whose border town mothers were directed to give birth in a US hospital but returned to Canada 2 days later, never again to live or work in the US) and folks born and always lived here whose only sin is to have had a US parent.

    Despite the Charter of Rights and Freedoms, that legal underpinning of equal treatment for all in Canada no matter their prior nationality or parentage brought in by Mr. Trudeau’s father, this government is continuing the hunt for anyone with any “US indicia” in order to identify and gather a wide swath of their (and their 100% Canadian financial account co-signers’) private personal and financial information which the CRA has been instructed to transfer to the IRS on an annual basis. All at very significant cost to Canada’s financial institutions and, indeed, all Canadians. Basically, their Harper-like position is that such individuals are to have less rights to privacy and equal treatment under the law than the newly arrived refugees! As well, it seems they hold that no one need tell the 155,000 account holders (whose information was transferred to the IRS last September) that their accounts were hacked. To maintain this foreign-imposed discriminatory law, the Liberals are even continuing (at taxpayers’ expense) the Harper government defence against a federal constitutional court challenge in this regard brought by the Alliance in Defence of Canadian Sovereignty.

    While the Liberal’s election motto was “A Canadian is a Canadian is a Canadian”, this post-election policy makes one realize that ‘A hypocrite is a hypocrite is a hypocrite”.

    In a NOTE under this letter, I added:
    As Canada’s only national weekly current affairs magazine, don’t you think it is about time that Maclean’s did a detailed, well-researched, independent investigative article about FATCA including the world-wide threat of economic sanctions which forced FATCA on every country in the world, the effect on 1 million Canadians deemed “US persons” by this foreign country (and the even worse effect on deemed “US Persons” in many other countries, e.g total loss of banking in their home country), their families and businesses and community organizations (who happen to be joint account holders or where the “US person” has signing authority), the fact that the FATCA IGA was NOT a legally agreed-to treaty in the US and that the US WILL NOT be holding up its’ end of the bargain made with Canada (and a hundred other countries) in terms of reciprocity (indeed, the US representatives knew from the start that this was highly unlikely – – so much for trust of our “neighbor and closest trading partner”), that other countries are now waking up to having been duped in this FATCA process and, with the world’s succumbing to the FATCA threat, the US is now the #3 tax haven in the world with +++ States-rights protected unnamed private companies and trusts. This “work on behalf of the US” (becoming unpaid IRS informants) is costing Canada millions of dollars annually (see attached) and for the most part Canada’s media has been shockingly silent about this scourge (or, worse, happily promoting “words of wisdom” from the accounting/compliance industry which has a VERY STRONG vested interest in promoting / maintaining this law – – in making scads of profits from this law).

  18. Can you give us the Cole’s Notes on that, Calgary411? 🙂
    Hard as I try, my mind goes numb on that kind of stuff and find myself reading the same paragraph five times…

  21. Though to be fair, the comment in the above article is meant in bitter sarcasm. It’s just hard to tell that until you read the whole piece through and finally understand the author’s point of view. I’m just afraid that Homeland Neanderthals will now go to bed dreaming of a world without “foreign” accounts.

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