Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Finance

DEVERE’S CAMPAIGN TO REPEAL AMERICA’S TOXIC GLOBAL TAX LAW TURNS UP THE HEAT IN DC

DEVERE'S CAMPAIGN TO REPEAL AMERICA’S TOXIC GLOBAL TAX LAW TURNS UP THE HEAT IN DC

The Campaign to Repeal FATCA, America’s toxic global tax law, has now gone into full gear.

 A delegation of the Washington DC-based campaign, launched and co-led by Nigel Green, founder and CEO of deVere Group, one of the world’s largest independent financial advisory organizations, spent last week in the U.S. capital garnering support.

 The delegation consisted of deVere Group’s Head of Public Relations, George Prior, who was representing Campaign Leader Nigel Green; former U.S. diplomat Jim Jatras of Global Strategic Communications Group and Co-Leader of the Campaign; Brian Garst of the Center for Freedom and Prosperity; and Keith Redmond, an independent advocate for Americans overseas.

 They took part in presentations on FATCA to two influential assemblies of tax activist groups that are active in shaping the tax package that will be passed by the Congress this year.

 In addition, the delegation also visited several congressional offices including those of Senator Roger Wicker (R-MS), co-sponsor of Senate repeal bill in previous Congress; Senator Rand Paul (R-KY), sponsor of Senate repeal bill in previous Congress; Congressman Mark Meadows (R-NC), sponsor of House repeal bill in previous Congress; and Congressman Thomas Massie (R-KY), co-sponsor of House repeal bill in previous Congress.

 There was also a meeting with the Senate Budget Committee, which the Campaign says is “important for scoring FATCA repeal.”

 Nigel Green comments: “The fight is now well and truly on to repeal this toxic, imperialistic and fatally flawed tax law.

 “FATCA has wrecked havoc on the global financial system, turned 8m Americans overseas into financial pariahs, violates other countries’ sovereignty, and is damaging for American jobs and therefore the American and global economies.”

He continues: “The results of last week’s campaign include that a letter signed by numerous tax reform groups, spearheaded by the influential Americans for Tax Reform, will be sent to key Congressional leadership urging inclusion of FATCA repeal in the tax package. Timing of the tax package is dependent on pending action on Obamacare.

 “FATCA repeal legislation will now definitely be introduced in the current Congress, in both the House and the Senate, in the next few weeks; this will serve as a focus for gathering support.

 “Help was offered to the delegation in securing early action by the Trump Administration to nullify the intergovernmental agreements that are essential to FATCA.

 “All points of contact were knowledgeable and in agreement with the delegation’s objective and all offered to help on both Congressional action and with the Administration. This will include rounding up co-sponsors, contact with key committees – notably House Ways and Means – and securing support from the Administration.

 “Other available levers include Senate consideration of tax treaties currently on hold, to render them unusable as vehicles for FATCA or the IGAs; budget scoring to provide for FATCA repeal – an amount insignificant enough to get ‘lost in the foam’ of a $4 trillion budget – and letters from Congressional supporters to the Administration.”

 Mr Green concludes: “I am extremely pleased with the amount of high level and high profile support for the Campaign to Repeal FATCA. But the real work starts now to have this law, which casts a stain on the U.S. at home and abroad, finally resigned to the history books.”

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post