Publication Source: iPolitics
Source Link: View the full original article >>
Author: Olesia Plokhii
Green Party leader Elizabeth May is calling on Canada to avoid being party to a U.S. law seeking to collect financial information on Canadians, arguing that it amounts to a violation of privacy.
Her appeal comes on the heels of regulations released by the U.S. Treasury Department mandating that foreign financial institutions report information on American taxpayers investing money abroad – the result of a major effort to crack down on tax evasion.
“I continue to hold (Finance Minister Jim) Flaherty to his commitment to protect Canadians from the extra-territorial application of U.S. law,” May wrote in an email to iPolitics about the Foreign Account Tax Compliance Act. “FATCA is moving fast down a track that violates our rights as Canadian citizens.”