US Tax Plan Big Issue for Canadian Banks

The long arm of U.S. law is poised to reach deep into the lives of millions of Canadians.

It’s called the Foreign Account Tax Compliance Act, or FATCA. Quietly signed into law by President Barack Obama last year, the legislation boasts the lofty goal of dismantling foreign tax havens suspected of looting $100-billion a year from the U.S. Treasury. Read on to see how it may affect you here.

This entry was posted on 30. May 2011 at 05:26 and is filed under Taxation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.