The reason why we need to collect this data is that we believe that anyone overseas with a bank account is a terrorist, money launderer, etc. Anyone else that would live overseas must have done so to avoid paying taxes. Why else would you run off and marry a Prince in a foreign country? Yes, we understand that your taxes are higher in the UK, but their taxes are not real taxes. Ours are – and you are avoiding ours, which you are never allowed to do.
The attorneys for our side (our side are Plaintiffs Gwen and Kazia, the Alliance for the Defence of Canadian Sovereignty — the “client”, and our supporters) and the attorneys for Mr. Justin Trudeau’s Government have just agreed on the timing for the next steps of our Canadian FATCA IGA lawsuit in Canada’s Federal Court.
This is an excellent overview, by Karen Alpert, depicting the harmful impact of Citizen-Based Taxation on US Tax persons in Australia (and beyond). Karen is from the University of Queensland – Business School; Financial Research Network (FIRN), and runs the Fix the Tax Treaty website and Facebook page.
This law expands reporting requirements, increases fines, and furthermore creates even a more hostile environment for ordinary US persons abroad through FATCA. This is a demonstration of the failure of FATCA. This is also a further example of members of Congress not understanding the issues of our citizens abroad. This is a blog post to … Read more