On February 4, 2014 I sent a submission to the New Zealand Finance and Expenditure Committee on the “Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Bill”. This bill is understood to be in part, the enabling legislation for a FATCA IGA between New Zealand and the United States. Commentary on “FATCA consciousness” (or rather lack of it) in New Zealand is available on a “FATCA Centric blog” here (see the comments for additional submissions) and here.
After sending my submission I was notified of the following opportunity:
The Finance and Expenditure Committee will be hearing submissions on the above bill on Wednesday, 12 February 2014 from 10.00am and your submissions has been allocated a time as follows:
“Wednesday, 12 February 2014
11.45am – 12.00am [Submissions can be made via teleconference.]
Select Committee Room to be advised
Please confirm if you are able to attend and if so the names and designations of your presenters. Submissions can be made via teleconference.
At present there is a trial of webcasting being conducted of select committee hearings; it is possible this hearing may webcast depending on the room allocated.”
I have accepted the invitation of the Committee. Here is the submission:
By keeping the focus on the relationship between citizenship-based taxation and FATCA, I have attempted to align the submission to the Yates, Kish, Richardson submission to the U.S. Senate Finance Committee on citizenship-based taxation.
FATCA is far more insidious when it is linked to U.S. citizenship-based taxation.
I would be grateful for your comments either on this blog or by contacting me directly.