FATCA World News

There has been FATCA News from various countries recently. globe taxes

Cayman Islands signed an IGA.

Costa Rica signed an IGA.

France signed an IGA.

New Zealand has unveiled enabling legislation for a FATCA IGA.

Here is Victoria’s assessment of the Model 1 IGA with France.

And here is Victoria’s assessment of the Model 2 IGA with Japan.

As for Canada? Flaherty’s office continues to use the “S” word (Soon). Just yesterday, one of his staff again told me me we should know “soon” the results of the negotiations with US. I pointed out to him that Flaherty has been saying “soon” for 27 months.

This may be why we don’t know more. The real plan is Canada is set to merge with US to become United States of Americanada.  The good news should be if we are one country, our accounts that are in banks down the street from us will no longer be “offshore” or “foreign.”

But, wait!  IRS isn’t ready for FATCA!

So, could a Republicans Abroad proposed resolution to repeal FATCA succeed at the  Republican National Convention and then proceed on to Congress?

 

 

 

 

 

18 thoughts on “FATCA World News

  1. Lynne Swanson

    I noticed my last update in this thread was February 3–two days before Canada announced it had caved to FATCA.

    I hope you can understand I have been consumed with other things and have not been keeping this or many other threads up to date. However, there has been a lot happening.

    Here are just a few of the developments.

    INDIA http://economictimes.indiatimes.com/news/economy/finance/india-concludes-pact-with-us-on-tax-evasion-under-fatca/articleshow/34079073.cms

    AUSTRALIA  http://www.financialstandard.com.au/news/view/39741851

    JAMAICA http://www.stabroeknews.com/2014/news/regional/04/25/jamaica-final-stage-implement-fatca/

    PHILIPPINES http://www.bworldonline.com/content.php?section=TopStory&title=FATCA-deal-needs-DFA-okay&id=86277

    ITALY http://www.tax-news.com/news/Italy_Consults_On_FATCA_Agreement_With_US____64492.html

    BAHAMAS http://www.eleutheranews.com/permalink/3987.html

    BELGIUM http://en.cihan.com.tr/news/Belgium-U-S-sign-agreement-on-tax-compliance_3129-CHMTQxMzEyOS80

    KUWAIT http://www.tax-news.com/news/Kuwait_Prepares_To_Sign_FATCA_IGA____64337.html

    LEBANON http://www.cpifinancial.net/news/post/26309/lebanons-creditbank-introduces-capital-compliance-fatca-module

    SUDAN http://www.sudantribune.com/spip.php?article50514

    The list goes on,  but you get the point.

    The one really intriguing one is Russia. http://www.reuters.com/article/2014/04/29/us-ukraine-crisis-usa-facta-idUSBREA3S16220140429

    Russia now wants a deal. Levin and some members of US Congress are saying no and insisting:

    “FATCA sanctions provide a powerful, non-military option…“

    To us, that is nothing new.  I think that was the real intent of FATCA all along. For the US to use FATCA as a means of controlling people, countries and financial institutions around the world.

    US doesn`t need to bother with military invasion of countries when they can simply control the world with FATCA. And governments around the world have fallen for it.

    JustMe called FATCA for what it is two years ago Twitter!

    Marvin Van Horn @FATCA_Fallout 15 Jul 2012
    You could call #FATCA the new WMD, or Weapon of Money Destruction.

    Reply

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