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The Isaac Brock Society

Media and Blog Articles Open for Comments – Part 4 of 11 (Year 2017)

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-4-of-4)

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.   I’ll make a permanent list of links posted here and keep adding to it,  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.

Notes:

From JC:   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.

From Badger:   On an important archival note, please use the Internet Archive Wayback machine https://archive.org/web/ (see bottom right ‘Save Page Now’ box to enter URLs of webpages you want saved for posterity, and try to save backup copies of articles and other items of interest in some other form – such as a datastick or external drive. Some important and very significant webpages and the fulltexts of articles are no longer available (although some can be retrieved if someone using the Wayback machine saved 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.

2017.12.28
It’s time to address the double standard about tax havens, Angela Wrights, Macleans, Canada.
The US Is Becoming the World’s New Tax Haven, The Editors, Bloomberg View, US.
2017.12.21
Rep. Dina Titus Supports Americans Abroad Tax Reform, Democrats Abroad, US. 
Now That The GOP Tax Bill Is Approved, The IRS Gets Busy, Brian Naylor, NPR, US.
2017.12.20
Taxpayers will have to wait to find out how they fare under new legislation , Renae Merle and Aaron Gregg, Denver Post (reprint from Washington Post), US.
U.S. Shareholders –Take Action by December 31, KPMG.
2017.12.18
Have You Ever Felt Sorry for the I.R.S? Now Might Be the Time, Patricia Cohen, New York Times, US.
2017.12.12
EU finance ministers issue warning to Trump over tax reforms, RTÉ, Ireland.
2017.12.11
Banque: les consequences étonnantes de l’accord FATCA, Edouard Lederer, Les Echos, France.
2017.12.10
As Australia ousts MPs with dual citizenship, Canada’s Parliament embraces many in its ranks, Kathleen Harris, Canada. (mentions MP who “assumed his U.S. citizenship was automatically rescinded because he did not meet several requirements for continued citizenship. [But when travelling to Washington] was told he was ineligible to enter the U.S. on a Canadian passport because he was a U.S. citizen. He was . . . allowed in on a one-time basis . . . it cost him $3,000 to later sort out the administrative requirements.”)
2017.12.09
The American Diaspora: Outreach and Organization, Victoria Ferauge, The Franco-American Flophouse, Japan.
2017.12.08
Foreign-owned banks to be hit by US tax rules, Financial Times, UK.
Trump Tax Plan Worries Europe, Christian Reiermann, Der Spiegel, Germany.

For articles earlier in 2017, click here.

1,720 thoughts on “Media and Blog Articles Open for Comments – Part 4 of 11 (Year 2017)”

  1. “Fatca is a poisonous tentacle of the IRS vampire squid that is ripe for chopping off” Amen!

    “Why should those living abroad face double taxation. The money was not earned in the US. Why should the government take while providing no services for these people.”

  4. Can’t find this online yet. Kiplinger’s personal magazine has an article titled :Expats Find a Home for their Money”.
    It says that a state department credit union is open to use by all members of American citizens Abroad. How convenient for driving membership. Not really in their best interests now to not have all this burden in place.

  5. @muzzled that’s a great article. But there is something else trump could do. He could grieve Trinidad an iga that removes place of birth and only seeks homeowners in the USA. That would then infect the other iga by more favourable clause.

  6. For anyone searching, T & T is calling their proposed FATCA IGA legislation the “Tax Information Exchange Agreements Bill” and is calling for comments with a deadline of Feb. 10:

    See;

    http://www.ttparliament.org/about.php?mid=36&id=mrAC8325

    “Call for Comments on the Tax Information Exchange Agreements Bill, 2016
    1 Feb 2017

    The Joint Select Committee established for consideration of the Tax Information Exchange Agreements Bill, 2016 is calling for comments on the Bill.

    The purpose of the Bill is to implement certain tax information exchange agreements entered into between Trinidad and Tobago and the United States of America.

    The Committee is inviting members of the public to submit comments on the Bill, which includes proposed amendments and is available here. PDF Icon The report of the Joint Select Committee, which was laid in the House of Representatives on February 3, 2017 can be found here. PDF Icon

    THE DEADLINE FOR SUBMISSIONS IS FRIDAY FEBRUARY 10, 2017.

    Written submissions should be addressed to the Secretary to the Committee as stated below or can be forwarded via email to jscfatca@ttparliament.org. ”

    The Secretary
    Joint Select Committee on Tax Information Exchange Agreements Bill, 2016
    Office of the Parliament of Trinidad and Tobago
    Levels G-9, Tower D
    International Waterfront Centre
    1A Wrightson Road
    Port-of-Spain

    Trying to find the ‘report’ that was supposed to be generated for comment;
    re; “..Attorney General Faris Al-Rawi told the post-Cabinet news conference yesterday that the report of the JSC will be brought to Parliament on Friday when “all will be revealed.”

    Members of the JSC who spoke with the T&T Guardian say the report has to be signed by all members and up to 3.45 pm yesterday they had received nothing…”………
    https://www.guardian.co.tt/news/2017-02-03/fatca-law-out-public-comment

  14. George TOR: I wrote T&T to suggest that their IGA have language to exempt legal local citizens and permanent residents. In effect, only US addresses would be reported to the US. This is similar to what is going on in the EU, i.e. my French bank writes to Belgium about my account, since I live in Belgium. I think this is “Common Reporting Standards”.

  16. Just spotted this at American Expat FB. It’s very good news.

    http://www.prnewswire.com/news-releases/nigel-green-launches-campaign-to-repeal-obama-era-fatca-law-300403383.html

    WASHINGTON, Feb. 7, 2017 /PRNewswire-USNewswire/ — Nigel Green, founder and CEO of deVere Group, one of the world’s largest independent financial organizations, has launched a Washington, DC-based lobbying and media campaign to repeal the Foreign Account Tax Compliance Act, or FATCA.

    Nigel Green and Jim Jatras are collaborating on this campaign. Terrific!

    As his co-leader of the Campaign to Repeal FATCA, Green has turned to former U.S. diplomat and longtime Senate leadership staffer Jim Jatras of the media and government relations firm Global Strategic Communications Group (GSCG). Jatras, a leading authority on FATCA, edits the online publication http://www.RepealFATCA.com, which is dedicated to getting rid of what he calls “the worst law most Americans have never heard of.”

    On Green’s initiative, Jatras is assembling a team of experienced DC professionals to push the repeal effort over the top. “Nigel’s deciding to step up to the plate is just tremendous,” says Jatras. “Billions of dollars have been wasted worldwide complying with FATCA, billions of words have been written complaining about it. Now it’s time for action. When that tax bill gets to President Trump’s desk, we want FATCA repeal in it.”

  18. @ Patricia Moon
    Yes, saw your new post after I made my comment. I’d been over at American Expat, thought this Nigel/Jim lobby is good news and came straight over to Media and Blog to pass it on without catching up on Brock first. I think striking out with this new lobby front while the window of opportunity (RNC platform) is open is a terrific idea. The more tines on our pitchfork the better. Somehow, something, from somewhere is going to pierce the CBT/FBAR/FATCA monster’s armour and then comes the kill shot.

  23. The following Notice to the Media has just been posted on the Finance Canada Site.

    Minister of Finance to Visit Washington, D.C.
    http://www.fin.gc.ca/notices-avis17/2017-02-08-eng.asp

    February 8, 2017

    Minister of Finance to Visit Washington, D.C.

    Minister of Finance Bill Morneau will be in Washington, D.C. on Thursday, February 9 to meet with senior White House economic advisors Gary Cohn, Director of the National Economic Council, Kenneth Juster, Deputy Assistant to the President for International Economic Affairs, and Dina Powell, Senior Counselor to the President for Economic Initiatives.

    The Minister will also hold bilateral meetings with Senator Orrin Hatch, Chairman of the Senate Committee on Finance, Senator Ron Wyden, Ranking Member, Senate Committee on Finance, and Senator Mike Crapo, Chairman of the Senate Committee on Banking, Housing and Urban Affairs.

    Minister Morneau will also deliver remarks and take part in an armchair discussion at Georgetown University as part of the event “Partners in Prosperity: The Canada-U.S. Relationship”.

    The event is open and the Minister will be available to media at the end of the session.

    ***************

    re Senator Orrin Hatch, Chairman of the Senate Committee on Finance: http://isaacbrocksociety.ca/2015/05/14/orrin-hatch-passport-revocation-bill-passes-senate/

    http://harbourtimes.com/2016/02/01/hatch-et-man-pulls-a-fast-one-to-target-americans-abroad/

  24. Commenting unavailable, but could be retweeted:

    Meanwhile, MP Freehand says; “.Chrystia Freeland says Canada prepared for ‘strong offensive position’ on NAFTA
    ‘Rest assured that we will very forcefully advocate for the national interest,’ foreign affairs minister says
    ..”….
    http://www.cbc.ca/news/politics/freeland-call-washington-wednesday-1.3972686

    But, the Canadian government (this time the gLIBs) are apparently still content to ignore that US FATCA by its very one-sided nature saddled Canada with the compliance and reporting costs designed to be FOREVER, which ALL Canadian taxpayers and accountholders pay with our Canadian tax revenues and banking fees (or lower returns) FOREVER, in order to pay for the US to get Canadian personal and financial data FOREVER, which it is crystal clear it will NEVER deliver reciprocally.

    This means that the Canadian financial sector, and other related sectors like certain pension plans and certain types of insurance, are hobbled with compliance costs of their own which the US counterparts do not have to meet. That is in addition to hobbling Canadians tainted with USP status, and the deliberate biased and punitive treatment of Canadian mutual funds held by Canadian USPs resident investors in Canada.

    Are Canadian taxpayers, investors, individuals and families and our Charter and constitutional rights not worth defending with the same or more vigour?

    If we were auto parts, or shingles and shakes, that would apparently be a different story.
    “…Freeland described her meetings with representatives from the automotive industry last Friday, and the lumber industry Monday, as valuable for understanding the position of different sectors of the economy likely to be part of the talks.

    “Rest assured that we will very forcefully advocate for the national interest,” she said….”…..

    Sources for FATCA as a NAFTA issue:
    Christians, Allison and Cockfield, Arthur J., Submission to Finance Department on Implementation of FATCA in Canada (March 10, 2014). Available at SSRN: https://ssrn.com/abstract=2407264 or http://dx.doi.org/10.2139/ssrn.2407264

    FATCA and the Erosion of Taxpayer Privacy
    Cockfield, Arthur J., FATCA and the Erosion of Canadian Taxpayer Privacy (April 1, 2014). Report to the Office of the Privacy Commissioner of Canada, April 2014. Available at SSRN: https://ssrn.com/abstract=2433198
    and as presented at CCLA Pathways to Privacy
    University of Toronto, March 19, 2014:
    Arthur Cockfield
    Queen’s University Faculty of Law
    http://ccla.org/oldsite/wp-content/uploads/2014/03/FATCA-and-the-Erosion-of-Taxpayer-Privacy-U-of-T-2014.pptx.

    and before Canadian Parliament
    https://openparliament.ca/committees/finance/41-2/34/prof-arthur-cockfield-1/

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