Flaherty Should Tell U.S. To Back Off On FATCA: Victoria Times Columnist

The media coverage keeps coming. First CBC and CTV. Yesterday, Global News. Today Victoria Times Columnist says FATCA Invades Canada.

They begin by writing:

Prime Minister Stephen Harper should pay a little less attention to protecting us from incursions on our Arctic territories and focus more on preventing an invasion from the south.

It’s not a military assault, but an invasion of privacy in the form of the U.S. Foreign Account Tax Compliance Act, which requires that foreign banks report to the Internal Revenue Service in the U.S. information about accounts held by “U.S. persons.”

They say it’s not clear how FATCA will happen, but that it should concern everybody because FATCA “spreads a wide net and infringes on personal privacy and national sovereignty.”

They conclude with some strong advice to Canada’s Finance Minister:

Flaherty should tell the U.S. to back off, that Canadians and legal residents of Canada should be subject to laws made in Canada, not in Washington.

Does anyone else have the sense whoever wrote this (no byline with the editorial) has checked out Sandbox and Brock?

 

 

 

 

One thought on “Flaherty Should Tell U.S. To Back Off On FATCA: Victoria Times Columnist

  1. This is a great article. It’s not very detailed, but often what catches people’s attention are the broad strokes – certainly anyone concerned can do a little research. I’m really happy to see this. I believe there would be a number of affected people on Vancouver Island.

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