Finance committee  Okay, thank you. Mr. Wrobel, welcome back to the committee, by the way. You've spent quite a bit of time with us over the years. You have expressed concern over FATCA, particularly over document retention requirements and the complexity of the act. But you've also spoken

Finance committee  So is FATCA the best game in town in terms of.... Not to make perfection the enemy of the good, but is that what we ought to be focused on? Is that the best way?

Finance committee   a leadership role in building global governance, with the operative vehicle being the G-20, to create a more effective vehicle than FATCA?

Questions Passed as Orders for Returns  With regard to the United States (U.S.) Foreign Account Tax Compliance Act (FATCA): (a) when was the government first made aware of this legislation and how; (b) what steps has Canada taken since the legislation's introduction in the U.S., broken down by year; (c) during

Economic Action Plan 2014 Act, No. 1   unreasonable and harmful and regressive measures that we cannot support. The bill also includes new rules around FATCA, the U.S. Foreign Account Tax Compliance Act. Under the bill, Canadians effectively are going to be doing the dirty work and becoming tax collectors for the IRS. Canada

Economic Action Plan 2014 Act, No. 1   for the Conservatives but our citizens as well. There is some expertise at the finance committee studying FATCA, but there is also a need to work with other committees. Parliament could be mobilized and engaged more thoroughly if we did not have these kinds of disparate measures lumped together

Finance committee   FATCA, are they subject to federal U.S. taxes?

Finance committee  If they are considered a U.S. person under FATCA, and they don't want to be, what is the appeal process?

Finance committee  Minister, yesterday you told the House that when it comes to U.S. taxes owed by Canadians under FATCA, the CRA will not assist the IRS in collecting U.S. taxes. If this is the case, why does your budget bill include penalties against dual Canada-U.S. citizens who fail

Finance committee  Minister, yesterday you told the House that we obtained a number of concessions, including exempting certain accounts such as RRSPs, RDSPs, and TFSAs from FATCA reporting. Now, this is only half the story. These exemptions apply to Canadian banks and their obligations

Finance committee  Would you agree that the exemption of certain accounts—RRSPs, RDSPs, and TFSAs—from FATCA reporting only applies to Canadian banks but not to the dual citizens?

Finance committee  Thank you very much. Mr. Russell, Ian, it's good to have you back before the committee. In a news release responding to FATCA, your organization suggested that registered savings accounts like RESPs and RDSPs are exempt from the scope of FATCA. These accounts are deemed non

Finance committee   or this concession was not demanded or ultimately attained. Mr. Berg, the government argues that the IGA is the best way to prevent Canadian financial institutions from being subject to FATCA's non-compliance penalties. What is preventing private trusts and private holding companies from being

Finance committee  . We have a sound system of taxation that is open and transparent. I agree with what you said earlier. We ought to have been able to leverage on these facts and our historic relationship with the U.S. to negotiate some exceptions. We were not targeted by FATCA, but we were caught

Finance committee  Mr. Hannah, you've just described FATCA as enormously complex. This IGA is effectively a treaty between two governments. Should something so enormously complex be part of an omnibus bill with a couple of hours of study allocated to it?