Liz May sounds alarm over privacy in tax deal with U.S.

On Wednesday, January 30th, 2013 in In the News

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.”

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