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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. @Bubblebustin – I don’t know. I get the impression that because Mr Hsiaw transferred his funds from UBS Switzerland to UBS Singapore, he was selected by the IRS as a lever they might be able to use to prise open UBS Singapore records. In other words, the IRS hopes to give Singapore the same grilling previously administered to Switzerland. And I get the impression that Mr Hsiaw was trying in vain to get beyond the reach of the IRS.

    According to the federaltaxcrimes blog Mr Hsiaw did sign the waiver consenting to the release of the records. So it sounds like he has now been well and truly hung out to dry, and perhaps the IRS has not succeeded in completely cracking UBS Singapore open. But that’s only my uninformed guess.

  2. “Mr Hsiaw was trying in vain to get beyond the reach of the IRS.” – and maybe China too?

  4. @iota

    In the article I posted, it sounded as though he didn’t file US taxes on income he received in the US after he left. Wouldn’t China have first claim on the taxes owed on this income if he was resident in China, and any tax owed to the US mitigated by a China-US tax treaty?

  5. As I understand it, what’s at issue in the case is not Hsiaw’s tax, but access to UBS Singapore’s bank records. The summons was against UBS, not Hsiaw. Presumably the IRS will use the info to build a case against Hsiaw, and given that multiple years are involved, they shouldn’t have much trouble wiping out the Singapore account. No idea what his tax situation in China might be.

    But it’s really access to the UBS Singapore records that’s at stake. If I understand it correctly.

  6. Thanks iota.

    I find one comment from the IRS particularly chilling:

    “It said the interest of the US in combating tax evasion through the use of secret foreign bank accounts substantially outweighs the interest of Singapore in preserving the privacy of bank clients.”

  7. My sympathies are with those of us who don’t have any offshore accounts and do pay our (proper, non-CBT) taxes, but get treated by the US as if there was no difference between us and people like Hsiaw.

  11. Anyone seen any mention of the impact on brexit of taking away the vote from those living outside of the UK for 15+ years?
    I am happy though surprised by the result. I wasn’t allowed to vote though. I can’t see any addition problems for expats that don’t live in the EU. There could be some protection from the EU for expats that we lose but I don’t know about that.

  12. A little help please with retweets likes:

    https://twitter.com/JCDoubleTaxed/status/746505855156248576

    Trying to leverage news of Brexit and Leave leader Boris Johnson’s (BoJo) view of US extraterritorial tax as “Outrageous,” and bring it into an opportunity to highlight the injustices of US tax on Australian soil into the Australian federal election. Scott Morrison, who has been referred to as “ScoMo” and viewed by some as PM material is a target of the message. He is the Australian Treasurer.

    A meeting with one’s local MP in Queensland (Australian state) prompted referral to a Queensland Senator as one of the asks was for a Senate Inquiry into CBT and tax treaty gaps. (In Australia the Senate’s role is to review and approve laws passed by the lower house). The Senator referred the letter to Treasurer Scott Morrison who replied (got a reply!) that US Double tax of Australians on Australian soil was a matter for the US in the first instance. You might have a look at the letter attached to the tweet as this represents my response to Scott Morrison’s reply and several years of thought on the issues (thanks to many many here on Isaac Brock for input – I even was enlighten about the Master Nationality Rule – a few years back – by none other than @Petros).

    Please retweet and like this tweet (thanks in advance – I have/would/will do the same for you).

  14. “…. an obscure U.S. statute hidden in a 2010 Democrat “jobs” bill….”

    Hidden, is right. Like the Ark at the end of Raiders! That. should be ILLEGAL– no votes unless the bill is understood in it’s entirety with time allotted to review. And no “addendums”.

    Good to see some REAL reporting on this. Sick of the people of the USA just sitting by & ignoring everything around them…until they have NO rights, at all!

  16. So will Canadian financial institutions have to search out truckers for reporting ? Standard question, Hiw many days were you as a Canafian citizen in the United States last year. Documentation please. The web widens…not just ordinary people but you know economically important people. Ahhhh…but there will probably be more wink, wink, knudge,knudge!

  18. title of above article is;
    “Your Pet’s Foreign Bank Account”

    Stop those UStaxable pets from using foreign offshore trusts in their UStaxevadingmoneylaunderingdruglordcrimesyndicate activities.

  20. @ Embee

    I read it just now and gasped and sweet Barclay asked me what was wrong, so I had to tell him. He threw his headway back and is doing the Scottie Howl. Sadder than the sound of bagpipes.

  22. @ Cheryl
    That article about capturing truck drivers is certainly alarming as the Ambassador bridge across my river, and also the one in Sarnia ON account for the most trade crossings in North America. Perhaps this will end up being a benefit in disguise as I cannot see the Canadian trucking Industry tolerating this and it may force the Canadian Government to reopen the agreement which would be precedent setting. The ball will now be in their hands. It also has possible NAFTA implications.

    I look forward to follow up articles on this.

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