Yearly Archives: 2012

A Treasury official said in a conference call with reporters that more countries may join the “FATCA partners” list.

“We’ve had numerous conversations with other governments beyond the five that are cited,” the official said.

Asked about Canada’s exclusion from the list of five countries, a senior government official with knowledge of the matter told Reuters that the United States “was open to exploring a similar arrangement with Canada.”

Canadian Finance Minister Jim Flaherty said the ministry had raised “serious concerns” about FATCA with the United States.

“Today’s announcement appears to demonstrate an interest in greater joint government collaboration to address such concerns. We will continue to work with our American counterparts towards an approach acceptable to both our countries,” he said.

http://www.reuters.com/article/2012/02/08/us-usa-tax-treasury-fatca-idUSTRE8171G620120208

Everyone can read into this how they want but I wanted to put it up. They seem to be indicating further negotiations will need to be undertaken. No mention of dual nationals but they do mention all of the countries involved have a “residency” based tax system.

http://www.hm-treasury.gov.uk/joint_intl_statement_fatca.htm

Interesting letter from the Brazilian Bankers Association. If you read through it many legal conflicts not just with Brazilian law but Brazil’s Constitution. In many ways a tougher position being taken than by anyone in the Canadian financial industry.

http://www.canadianlawyermag.com/4031/the-offshore-banking-nightmare.html

While I don’t believe the situation described by this article is at all relevant to the situation facing people here I just wanted to show at least from a Canadian standpoint where there are some people who might not necessarily be as sympathetic to our plight over here at IBS as we would hope. Given there is an ability on their website to make comments I suggest people to do so generously about the situation Expats/Accidental Americans/Dual Citizens are facing and that Canadian Lawyer magazine should be covering their plight AS MUCH as those whom they describe in the article of being victomized by these offshore investment scams.

For anyone who might be interested.

I understand the January presentation in Calgary over-subscribed immediately.

http://www.moodystax.com/seminars/us-tax-session.html