This RepealFATCA.com bulletin departs from our usual format to round up some important news and commentary from around the world on the deepening troubles of the dysfunctional “Foreign Account Tax Compliance Act” (FATCA). The headlines:
- Treasury Department Promises RepealFATCA.com “Expedited” Response to Freedom of Information Act Request Regarding Agreements with Britain, Canada, and Switzerland.
- Russian Foreign Ministry Affirms Exchange of Tax Information but Rejects FATCA as “Counterproductive,” “Extraterritorial in Nature,” and “Contrary to the Principle of Sovereign Equality.”
- Canadian Opposition and Citizens Take Government and Big Banks to Task for Selling Out on FATCA; Macleans picks up on FATCA.
- Risk.net: “Fatca fears reach swaps market”: Withholding on U.S. Treasury securities could wreak global havoc.
- Rahn: “Looking for lucre in all the wrong places” (Washington Times, 10/28/13).
- Rommann: “FATCA: The Scarlet Letter Abroad” (American Thinker, 11/2/13).
More information on each of the headlines above is provided below: