From this CBC story on May 29, 2013.
Eritrean diplomat ordered out of Canada after 'tax' on ex-pats - Politics - CBC News
Even as this was happening Canada was negotiating the worst possible terms for American Ex-Pats living in Canada. Worse yet they allowed the IRS to define American so many 100% Canadian citizens are vulnerable.
The Eritrean tax was 2% of income. The form a single page so simple a child could fill it in. There are no penalties for refusing to pay it which means it really is voluntary.
OTOH the US was demanding that the 90% of Americans living abroad who were completely unaware that they were supposed to be filing US taxes and F(u)BARS, should participate in what was called the Offshore Voluntary Disclosure Program. Their reward for participating was that the IRS would limit its depredations on their accounts to 27% and label them as criminals. This even though in most cases they would owe nothing or almost nothing in back taxes. The 27% comes in the form F(u)BAR penalties. The alternative is that once FATCA is in place the IRS will go after everything.
Unfortunately even that 27% is deceptive. Say you had $50,000 in a GIC. It matures and goes into your checking account. You then moved that over to another financial institution. The penalty would be 27% on each of those three accounts or 81% or $40,500 of that $50,000. BTW this is what Screature was referring to when he suggested CanAms become IRS compliant.
The entire point of FATCA is to enable the F(u)BAR extortion scheme.
So the poll question is this:
Since Canadian Government has decided to enable the IRS extortion scam by signing the IRS FATCA IGA should John Baird apologize to Eritrea ?
Eritrean diplomat ordered out of Canada after 'tax' on ex-pats - Politics - CBC News
Quote:
The head of the Eritrean Consulate in Toronto has been ordered to leave Canada in the wake of reports that said Semere Ghebremariam O. Micael has been involved in soliciting a "diaspora tax" from Eritreans in Canada. Foreign Affairs Minister John Baird issued a news release Wednesday that said he has taken steps to expel Micael and he must leave by noon ET on June 5. "Today’s actions speak for themselves," Baird said. "Canada has repeatedly made clear to Eritrea to respect international sanctions and Canadian law." |
Even as this was happening Canada was negotiating the worst possible terms for American Ex-Pats living in Canada. Worse yet they allowed the IRS to define American so many 100% Canadian citizens are vulnerable.
The Eritrean tax was 2% of income. The form a single page so simple a child could fill it in. There are no penalties for refusing to pay it which means it really is voluntary.
OTOH the US was demanding that the 90% of Americans living abroad who were completely unaware that they were supposed to be filing US taxes and F(u)BARS, should participate in what was called the Offshore Voluntary Disclosure Program. Their reward for participating was that the IRS would limit its depredations on their accounts to 27% and label them as criminals. This even though in most cases they would owe nothing or almost nothing in back taxes. The 27% comes in the form F(u)BAR penalties. The alternative is that once FATCA is in place the IRS will go after everything.
Unfortunately even that 27% is deceptive. Say you had $50,000 in a GIC. It matures and goes into your checking account. You then moved that over to another financial institution. The penalty would be 27% on each of those three accounts or 81% or $40,500 of that $50,000. BTW this is what Screature was referring to when he suggested CanAms become IRS compliant.
The entire point of FATCA is to enable the F(u)BAR extortion scheme.
So the poll question is this:
Since Canadian Government has decided to enable the IRS extortion scam by signing the IRS FATCA IGA should John Baird apologize to Eritrea ?
via ehMac.ca http://ift.tt/1nhN5aG
Aucun commentaire:
Enregistrer un commentaire