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Results: 181 - 210 of 210
View Diane Lebouthillier Profile
Lib. (QC)
I am going to ask Ms. Juneau to answer your questions and give some comments on that.
View Diane Lebouthillier Profile
Lib. (QC)
Currently, that information cannot be publicly released because it was obtained under a treaty. It is the prerogative of the country sending the information to authorize public release of the information.
View Diane Lebouthillier Profile
Lib. (QC)
Mr. Long, our government takes the matter of privacy protection very seriously. All the information exchanged with the United States is subject to very strict confidentiality rules. The Canada Revenue Agency makes sure that tax cooperation with its partners is fully consistent with the privacy rights in effect in Canada. Information exchange is done electronically, through a dedicated, secure and effective transmission system.
All information that the IRS receives must be kept secret in the same way as information obtained under its own tax laws. All information can only be released to individuals and authorities in the American tax administration and can only be used for tax purposes.
Protecting the confidentiality of all transmissions is a major requirement for the agency. Protecting privacy really is a priority for the agency and for our government.
View Diane Lebouthillier Profile
Lib. (QC)
I will let Mr. Gallivan answer that question.
View Diane Lebouthillier Profile
Lib. (QC)
The financial institutions are aware of this kind of information exchange. I must emphasize that, if the agency had not signed an agreement with FATCA, the information exchange would be done by the banks. The fact that the agency is involved and that agreements have been reached with FATCA, allows us to protect the information even more and to respect confidentiality and privacy.
View Diane Lebouthillier Profile
Lib. (QC)
I must tell you that, clearly, we would have done things differently from the previous government when the time came to get the approval of Parliament. We would not have rushed the agreement into effect by hiding it in an omnibus bill more than 400 pages long. We would have taken the time to explain clearly to Canadians and to Parliament why the agreement was being adopted. We would have taken the time to discuss it in a much more open and transparent manner in order to provide parliamentarians and Canadians with all the information, as is right and proper.
View Diane Lebouthillier Profile
Lib. (QC)
After we had obtained all the information about FATCA, we clearly would still have entered into agreements with the United States. FATCA is an American act. The position that was taken at the time really allowed the Canadian banking system, and Canadians with dual citizenship, to be protected.
View Diane Lebouthillier Profile
Lib. (QC)
The current agreement adequately protects the rights of Canadians. As I mentioned, the action needed would have been more about the process of implementing the agreement with the United States. We would have worked differently by involving all parliamentarians in open and transparent discussions and by providing information that was fair and equitable for all Canadians.
View Diane Lebouthillier Profile
Lib. (QC)
That is true, but I must repeat that the difficulty was much more related to the process. If the process had involved all parliamentarians, we would probably not be here today discussing FATCA.
View Diane Lebouthillier Profile
Lib. (QC)
I think that Ted Gallivan will be able to answer that question.
View Diane Lebouthillier Profile
Lib. (QC)
As I mentioned a little earlier, we clearly would have done things differently in terms of what the previous government did when the time came to have the agreement approved. There would have been discussions in Parliament in which everyone would have been involved.
View Diane Lebouthillier Profile
Lib. (QC)
The NDP is loudly clamouring for measures to fight tax evasion and tax avoidance. However, the automatic exchange of information such as we have with the United States allows us to cross-reference information.
View Diane Lebouthillier Profile
Lib. (QC)
We can also identify inconsistencies in tax avoidance and tax evasion internationally.
Are you telling me that you are against measures that allow us to fight more effectively against tax evasion?
View Diane Lebouthillier Profile
Lib. (QC)
On Monday, we made a historic announcement about an investment of $444.4 million. We certainly responded to Senator Percy Downe, who has also taken a public position saying that he was in agreement with our direction. So we are now going to work in collaboration with the senator on the tax gap.
View Diane Lebouthillier Profile
Lib. (QC)
I will ask Mr. Gallivan to answer your question.
View Diane Lebouthillier Profile
Lib. (QC)
I would like to emphasize that FATCA is an American act and more than 100 countries have to comply with it in terms of Americans with dual citizenship, wherever they are in the world. As far as constitutionality is concerned, all agreements have been and are vetted by the Department of Justice.
View Diane Lebouthillier Profile
Lib. (QC)
As I mentioned a little earlier, Canada had to come to an agreement on FATCA. We had to sign an agreement with the United States. The problem was the process in the House. There should have been open and transparent discussions with all parliamentarians.
View Diane Lebouthillier Profile
Lib. (QC)
I will ask Mr. Gallivan to answer your question.
View Diane Lebouthillier Profile
Lib. (QC)
Do you want to know whether it would be a good idea to send all the information?
Under our current agreement, people who want to receive information about what has been transferred can get in touch with the agency or with their financial institution and the information will be provided to them.
View Diane Lebouthillier Profile
Lib. (QC)
As well, on the Canada Revenue Agency website, there is a special section on FATCA and everything that is involved.
View Diane Lebouthillier Profile
Lib. (QC)
If you want to amend the agreement, you would have to talk to the Department of Finance. That is the department that negotiated the agreement.
View Diane Lebouthillier Profile
Lib. (QC)
The Department of Finance negotiated the agreement. So you would have to check with that department to see if it is possible to change it.
View Diane Lebouthillier Profile
Lib. (QC)
Let me repeat the answer I gave. The Department of Finance negotiated the agreement. The Canada Revenue Agency implements the agreements negotiated by the Department of Finance.
View Diane Lebouthillier Profile
Lib. (QC)
I will let Mr. Gallivan answer that question.
View Diane Lebouthillier Profile
Lib. (QC)
As I said a little earlier, if our government had been in place at the time, we would have taken the time to explain clearly to Canadians and to parliamentarians the reasons why this agreement was being adopted and to discuss it in an open and transparent manner. The problem really is with the process, and the fact that an agreement was rushed through in an omnibus bill more than 400 pages long.
Results: 181 - 210 of 210 | Page: 7 of 7

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