This article is actually about Panama-US FATCA negotiations. Buried in the article may be a real glimmer of hope for Canada.
A lawyer who has been advising foreign firms on FATCA says:
“There is a lot of tension between the U.S. and Canada.”
That seems to indicate Canada is holding out. On the other hand, he also said:
“The Canadians have been really exasperated by the inability of the U.S. to have more concessions”
So, that sounds like the U.S. is not budging, which is not good news.
Treasury “is struggling to complete deals with China and Canada, leaving two potentially gaping holes in the FATCA dragnet,” tax experts said
Keep digging Jim Flaherty!