US Treasury has announced it is Engaged with More Than 50 Countries To Combat Tax Evasion through FATCA.
The announcement says:
The Treasury Department has already concluded a bilateral agreement with the United Kingdom. Additional jurisdictions with which Treasury is in the process of finalizing an intergovernmental agreement and with which Treasury hopes to conclude negotiations by year end include: France, Germany, Italy, Spain, Japan, Switzerland, Canada, Denmark, Finland, Guernsey, Ireland, Isle of Man, Jersey, Mexico, the Netherlands, and Norway.
Interesting that Canada is included. I received a letter from Flaherty last week. His tone has softened slightly, but I don’t sense he has he has budged a lot from his original position. I will post the letter in the next day or two. My own best speculation is that an agreement with Canada will be far from what International Robbery Society actually wants. What do others think? Tim?
The announcement goes on to give other countries at other stages.
The announcement also says:
“By working cooperatively with foreign governments and financial institutions, we are intensifying our ability to combat tax evasion while minimizing burdens on financial institutions.”
How about minimizing burdens on citizens of other countries who have had no financial ties with US for decades–or in some cases, never?