“A debate over fighting tax evasion versus protecting personal privacy looms large for Canada as it prepares to announce a deal with the United States to share banking information. FATCA was signed into law in March 2010, and many of its provisions start on Jan. 1, 2014. It requires financial institutions in other countries to tell the U.S. Internal Revenue Service about Americans’ offshore accounts worth more than $50,000. Canada and the U.S. are negotiating whether Ottawa or the financial institutions will send the information, but the clock is ticking. If no deal is reached, banks operating in Canada will have to give the data directly to the IRS.”
Related posts:
Greece to sack 15,000 state workers in next two years to unlock bail-out cash
American teenager designs compact nuclear reactor
Foreign investors: Why US bank may close your account
Afghan villagers flee their homes as US drones terrorize them
Escaping the death spiral of Blue State taxes
West Virginia judge arrested for allegedly attempting to frame ex-lover’s husband
Google: Gov. requests for user information up 120% over four years
Company fined for smog-forming compounds in 'Gorilla Snot' hair gel
Multiple Canadians denied entry to U.S. based on phone searches
Marc Faber on ET NOW, 03 July 2013
Flipping Off Police Officers Constitutional, Federal Court Affirms
How the US sent $12bn in cash to Iraq. And watched it vanish [2007]
Britain considers ban on bearer shares for G8 transparency [2013]
Secret NSA loophole allows data gathering on U.S. citizens without a warrant
Around the Bay Area, you're being watched