Two women fighting FATCA expand lawsuit to include revenue minister as defendant

Financial Post | Business

Two Canadian women mounting a legal challenge to FATCA have expanded their action to include the Minister of National Revenue as a defendant.
Gwen Deegan, a graphic designer from Toronto, and Ginny Hillis, a retired lawyer from Windsor, claim the Canadian federal government doesn’t have the constitutional authority to comply with a U.S. law called the Foreign Account Tax Compliance Act (FATCA).
Canada is complying with the law by agreeing to provide the U.S. Internal Revenue Service with financial information about so-called “U.S. persons” resident in Canada.
The plaintiffs believe the definition of “U.S. person” used in the law is so broad that it captures up to one million Canadians, some of whom feel they have no real connection to the U.S.

[related_links /]

As of July 1 this year, Canadian financial institutions must provide the Canadian Revenue Agency with information about accountholders who meet the definition of U.S. person. The CRA…

View original post 132 more words

Advertisements
Tagged with: , ,
Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: