Q-127 — Mr. Brison (Kings—Hants) — With regard to the United States (U.S.) Foreign Account Tax Compliance Act (FATCA): (a) when was the government first made aware of this legislation and how; (b) what steps has Canada taken since the legislation's introduction in the U.S., broken down by year; (c) during the consideration of this legislation in the U.S., did Canada make any representations to the U.S. government and if so, (i) when, (ii) by whom, (iii) to whom, (iv) on what dates, (v) by what authority (vi) with what desired effect (vii) and with what outcome; (d) how many individuals in Canada will be affected; (e) how was the figure in (d) calculated; (f) how many Canadian citizens residing in Canada are U.S. persons under FATCA; (g) how many Canadian permanent residents are U.S. persons under FATCA; (h) how many applications for permanent residency is Canada currently processing from persons who are or will be treated as U.S. persons under FATCA; (i) broken down by province and territory and status, how many persons in Canada are projected to be affected by FATCA;
(j) how was the figure in (l) calculated; (k) how many Canadian financial institutions will be impacted by FATCA; (l) how was the figure in (k) calculated; (m) how many non-financial Canadian entities will be impacted by FATCA; (n) how was the figure in (m) calculated; (o) what consultations has the government undertaken with respect to FATCA's impact on persons resident in Canada; (p) what consultations has the government undertaken with respect to FATCA's impact on financial institutions; (q) what consultations has the government undertaken with respect to FATCA's impact on non-financial entities; (r) what estimates and studies have been undertaken with respect to the consequences of a 30% withholding of U.S. sourced income to financial institutions;
(s) when did the studies in (r) occur and what were their conclusions; (t) how much has been spent evaluating FATCA's impact on Canadians; (u) broken down by department, how was the figure in (r) determined; (v) what estimates have been undertaken with respect to FATCA's cost to implement for Canada and with what conclusions; (w) for the five years starting in 2014, how much is FATCA implementation expected to cost (i) Canada Revenue Agency, (ii) the department of Finance, (iii) the department of Justice, (iv) other government departments, agencies, boards, or tribunals; (x) broken down by year and cost from 2010-2020, what is the total financial impact of FATCA implementation expected to be on Canadian taxpayers; (y) how were the figures in (x) obtained; (z) what outside legal opinions has the government sought with respect to FATCA's compatibility with Canadian law; (aa) when were the opinions in (z) sought and at what expense;
(bb) have unsolicited legal opinions been sent to the government regarding FATCA; (cc) how many opinions in (bb) has the government received, (i) on what dates, (ii) with what conclusions, (iii) with what impact on the Government's actions; (dd) has the government assessed the possibility of not acceding to FATCA in any way and, if so, with what conclusion and with what cost to Canada or to Canadians when compared to accession; (ee) how much has been spent on negotiations surrounding FATCA, broken down by year and expense; (ff) which individuals from the government have negotiated on Canada’s behalf regarding FATCA; (gg) what has the Minister of Finance's personal role been with respect to FATCA negotiations; (hh) what has the Minister of National Revenue's personal role been with respect to FATCA negotiations; (ii) what has the Minister of Foreign Affairs’ personal role been with respect to FATCA negotiations; (jj) what plans or strategies has Canada developed regarding enforcement of any FATCA related agreement with the United States;
(kk) what penalties will there be for U.S. failure to meet any of its negotiated obligations; (ll) has the litigation risk regarding any FATCA implementation agreement been evaluated and, if so, (i) how, (ii), when, (iii), by what means; (mm) broken down by department and agency, and with specific record numbers and titles, what briefing materials and files have been developed regarding FATCA; (nn) what measures are in place to assess the lawfulness and legality of any implementation of FATCA in Canada; (oo) have any future public consultations with respect to FATCA implementation been planned and, if not, why not; (pp) what is the projected impact of FATCA on the Bank of Canada; (qq) what efforts has the government made with respect to informing financial institutions of their obligations under FATCA; (rr) what efforts has the government made with respect to informing non-financial entities of their obligations under FATCA; (ss) what efforts has the government made with respect to informing individuals residing in Canada of their obligations under FATCA;
(tt) has Canadian non-compliance with FATCA been assessed as a possibility and, if so, to what extent; (uu) has FATCA been raised in discussions between Canada and countries other than the U.S. and, if so, (i) with which countries, (ii) at what level(s) did the discussion occur, (iii) on what dates, (iv) in what forum, (v) and with which individuals from Canada participating; (vv) have any studies or analysis taken place with respect to FATCA’s impact on immigration to Canada by persons subject to this legislation and, if so, with what conclusion; (ww) has the Canadian Ambassador to the U.S. raised the issue of FATCA in any discussions and if so, (i) which discussions, (ii) on what dates, (iii) with what desired goal; (xx) has the American Ambassador to Canada raised the issue of FATCA in any discussions and if so, (i) which discussions, (ii) on what dates, (iii) with what outcome; (yy) has the government considered the correspondence of Peter Hogg regarding FATCA and if so, (i) with what impact on policy development, (ii) with what conclusion; and (zz) what steps will the government take to minimize any infringement of Canadian Charter rights by any implementation of FATCA? — Sessional Paper No. 8555-412-127.