Alex Atamanenko, MP BC Southern Interior, is sponsoring a public tax information session for Canadians considered to be “U.S. persons.” A panel of immigration and cross-border tax experts will address issues related to U.S. tax and the Foreign Account Tax Compliance Act (FATCA). The Canadian government is in negotiations with the Americans on an Intergovernmental Agreement (IGA) to impose U. S. tax legislation (FATCA) on Canadian financial institutions. The agreement may require Canadian banks and other financial institutions to disclose information on accounts held by “U.S. persons” to the U.S. Internal Revenue Service. Negotiations are being conducted in secret and raise concerns that the IGA could potentially violate Canadian privacy laws. Furthermore, the misinformation and secrecy around FATCA is causing a great deal of public anxiety and anger.
The session is free and will be held Tuesday, Feb. 11, from 7 – 9 p.m. at the Fireside Conference Centre, 1810 8th Avenue, Castlegar.