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airuma wrote:I would guess you have a head start at drinking drainwater to post such a foolish response!De Dragon wrote:airuma wrote:This woman is an embarrassment to our country yes! We really need to understand how to mind our own business. IMHO, the USA has every right to legally do what they see necessary to better their country. Our decision must be whether we will comply or suffer the consequences. If Kamla really wanted to do something meaningful, she would have done so when she was prime minister and had an opportunity to unite with other countries against compliance.
Those articles are nothing more than an attempt to capture readers, especially those who are critical of every decision Trump has made or will make.... And this is no small reader base.
This reminds of Braveheart when the king threw his son's friend out the window after he offered the king advice.
Yes, if the US says let us drink drainwater, let's, because they always act in the best interest of the Caribbean
De Dragon wrote:airuma wrote:I would guess you have a head start at drinking drainwater to post such a foolish response!De Dragon wrote:airuma wrote:This woman is an embarrassment to our country yes! We really need to understand how to mind our own business. IMHO, the USA has every right to legally do what they see necessary to better their country. Our decision must be whether we will comply or suffer the consequences. If Kamla really wanted to do something meaningful, she would have done so when she was prime minister and had an opportunity to unite with other countries against compliance.
Those articles are nothing more than an attempt to capture readers, especially those who are critical of every decision Trump has made or will make.... And this is no small reader base.
This reminds of Braveheart when the king threw his son's friend out the window after he offered the king advice.
Yes, if the US says let us drink drainwater, let's, because they always act in the best interest of the Caribbean
That one flew right over your head didn't it?
The United States Government passed the Foreign Account Tax Compliance Act (FATCA) in 2010 and has been implementing it vigorously.
FATCA requires US persons, including those living abroad, to file yearly reports on their non-US financial accounts to the Financial Crimes Enforcement Network. It also requires all foreign financial institutions to provide information on assets and transactions of US persons to the US Department of the Treasury.
The definition of US persons includes foreigners holding upwards of US$50,000 in accounts with financial institutions.
The motivation for FATCA is two-fold: First, improved tax compliance and tax revenue collection, and second, to cut off or reduce funds getting to terrorist organisations. Nothing is wrong with either motive.
But the US is inadvertently causing serious damage to the small, developing economies of the Caribbean, who are its strong allies, because of the highly open nature of their economies and their dependence on international financial intermediation by foreign commercial banks.
Many in the region, however, believe that the US action was also related to the fact that it has listed 15 Caribbean countries as tax havens. FATCA adversely affects all international financing provided by correspondent banks. Adverse impacts include choking international investment flows, trade financing, transfers of remittances, debt servicing, transfers of profits and royalties.
Some US banks have either withdrawn or restricted some of these services to 16 banks in the Caribbean in spite of FATCA compliance by Caribbean jurisdictions. There have been meetings between the US Treasury and Caribbean ministers, but the region feels that there is insufficient empathy.
Jamaica’s Finance Minister Audley Shaw made a strong statement when Caribbean finance ministers met with the US Treasury and the International Monetary Fund late last year. Prime Minister Gaston Browne of Antigua and Barbuda hosted a special conference shortly thereafter.
Recently, the leader of the Opposition in Trinidad and Tobago Mrs Kamla Persad-Bissessar did something almost unheard of by writing to then President-elect Donald Trump to remind him that in his presidential campaign he indicated that he would abolish FATCA. The Wall Street Journal took up the issue in an editorial.
Latest development is that a seminar is scheduled for tomorrow at the SUNY-UWI Centre for Governance and Sustainable Development in New York to mobilise support for a change in US policy. The strong Caribbean team includes Sir Kenneth Hall; former prime minister of Barbados Owen Arthur; Ambassador Dr Richard Bernal, pro-vice chancellor of global affairs at UWI; former president of the Caribbean Development Bank Professor Compton Bourne; and Dr Damien King of the UWI Economics Department.
Combating money laundering and terrorist financing is a goal shared by this newspaper and Caribbean governments. Suitable arrangements have to be put in place to ensure that this can be attained while allowing normality in international financing. Hopefully, the SUNY-UWI seminar will help influence the US to repeal FATCA.
We wish the team well in their mission.
bluefete wrote:dude2014 wrote: There are other Countries/Currencies that Trinidad can trade with.
The USA invaded Libya and Iraq because Gaddaffi and Saddam wanted to create alternative currencies to the $US.
Country_Bookie wrote:From Jamaica Observer:The United States Government passed the Foreign Account Tax Compliance Act (FATCA) in 2010 and has been implementing it vigorously.
FATCA requires US persons, including those living abroad, to file yearly reports on their non-US financial accounts to the Financial Crimes Enforcement Network. It also requires all foreign financial institutions to provide information on assets and transactions of US persons to the US Department of the Treasury.
The definition of US persons includes foreigners holding upwards of US$50,000 in accounts with financial institutions.
The motivation for FATCA is two-fold: First, improved tax compliance and tax revenue collection, and second, to cut off or reduce funds getting to terrorist organisations. Nothing is wrong with either motive.
But the US is inadvertently causing serious damage to the small, developing economies of the Caribbean, who are its strong allies, because of the highly open nature of their economies and their dependence on international financial intermediation by foreign commercial banks.
Many in the region, however, believe that the US action was also related to the fact that it has listed 15 Caribbean countries as tax havens. FATCA adversely affects all international financing provided by correspondent banks. Adverse impacts include choking international investment flows, trade financing, transfers of remittances, debt servicing, transfers of profits and royalties.
Some US banks have either withdrawn or restricted some of these services to 16 banks in the Caribbean in spite of FATCA compliance by Caribbean jurisdictions. There have been meetings between the US Treasury and Caribbean ministers, but the region feels that there is insufficient empathy.
Jamaica’s Finance Minister Audley Shaw made a strong statement when Caribbean finance ministers met with the US Treasury and the International Monetary Fund late last year. Prime Minister Gaston Browne of Antigua and Barbuda hosted a special conference shortly thereafter.
Recently, the leader of the Opposition in Trinidad and Tobago Mrs Kamla Persad-Bissessar did something almost unheard of by writing to then President-elect Donald Trump to remind him that in his presidential campaign he indicated that he would abolish FATCA. The Wall Street Journal took up the issue in an editorial.
Latest development is that a seminar is scheduled for tomorrow at the SUNY-UWI Centre for Governance and Sustainable Development in New York to mobilise support for a change in US policy. The strong Caribbean team includes Sir Kenneth Hall; former prime minister of Barbados Owen Arthur; Ambassador Dr Richard Bernal, pro-vice chancellor of global affairs at UWI; former president of the Caribbean Development Bank Professor Compton Bourne; and Dr Damien King of the UWI Economics Department.
Combating money laundering and terrorist financing is a goal shared by this newspaper and Caribbean governments. Suitable arrangements have to be put in place to ensure that this can be attained while allowing normality in international financing. Hopefully, the SUNY-UWI seminar will help influence the US to repeal FATCA.
We wish the team well in their mission.
FATCA forces all non-US banks to be agents of the IRS, essentially the banks have to investigate every single customer they have to make sure the customer isn't a US citizen. If they even suspect you might be a US citizen then all your personal info going straight to the IRS. Only a jackarse gov't would just bend over and accept it when there are other ppl in our region standing up against it and the party that just swept elections in the US promised to repeal it.
airuma wrote:De Dragon wrote:airuma wrote:I would guess you have a head start at drinking drainwater to post such a foolish response!De Dragon wrote:airuma wrote:This woman is an embarrassment to our country yes! We really need to understand how to mind our own business. IMHO, the USA has every right to legally do what they see necessary to better their country. Our decision must be whether we will comply or suffer the consequences. If Kamla really wanted to do something meaningful, she would have done so when she was prime minister and had an opportunity to unite with other countries against compliance.
Those articles are nothing more than an attempt to capture readers, especially those who are critical of every decision Trump has made or will make.... And this is no small reader base.
This reminds of Braveheart when the king threw his son's friend out the window after he offered the king advice.
Yes, if the US says let us drink drainwater, let's, because they always act in the best interest of the Caribbean
That one flew right over your head didn't it?
Ok then! Well i am of the opinion that everyone is free to act in their best interest under the condition that such action will not compromise the basic rights of others. Please do help me clear up my ignorance wrt how FATCA compromises our basic rights.
De Dragon wrote:airuma wrote:De Dragon wrote:airuma wrote:I would guess you have a head start at drinking drainwater to post such a foolish response!De Dragon wrote:airuma wrote:This woman is an embarrassment to our country yes! We really need to understand how to mind our own business. IMHO, the USA has every right to legally do what they see necessary to better their country. Our decision must be whether we will comply or suffer the consequences. If Kamla really wanted to do something meaningful, she would have done so when she was prime minister and had an opportunity to unite with other countries against compliance.
Those articles are nothing more than an attempt to capture readers, especially those who are critical of every decision Trump has made or will make.... And this is no small reader base.
This reminds of Braveheart when the king threw his son's friend out the window after he offered the king advice.
Yes, if the US says let us drink drainwater, let's, because they always act in the best interest of the Caribbean
That one flew right over your head didn't it?
Ok then! Well i am of the opinion that everyone is free to act in their best interest under the condition that such action will not compromise the basic rights of others. Please do help me clear up my ignorance wrt how FATCA compromises our basic rights.
Never said that you were ignorant bro. What you have to realize is that our politicians would use this information for political means. Would you feel comfortable with your financials exposed for anyone caring to take a look? Forget that sheit about US citizens only. Even if you are suspected of being a US citizen, or having passed money through the US banking system, your information can be pulled. Forget that sheit about "cocoa in the sun" from a meddlesome US Ambassador. The PNM controls the mechanism by which someone's information is targeted, so do you think that they would flag themselves or their financiers? Do you think that the UNC would also no react in the exact same way? This goes further to our expectation of privacy in our affairs, and if the US wants this grand monitoring scheme, fine, but let them implement and enforce it with their considerable means, not by proxy, or threats, or PNM agents like Al-Wari and Imbert.
The most frightening thing is that your information can be pulled, shared and used without you ever knowing, and once there are no rigid, INDEPENDENT( if that exists in T&T) checks and balances, then I could never just blindly support this legislation.
Trinispougla wrote:De Dragon wrote:airuma wrote:De Dragon wrote:airuma wrote:I would guess you have a head start at drinking drainwater to post such a foolish response!De Dragon wrote:airuma wrote:This woman is an embarrassment to our country yes! We really need to understand how to mind our own business. IMHO, the USA has every right to legally do what they see necessary to better their country. Our decision must be whether we will comply or suffer the consequences. If Kamla really wanted to do something meaningful, she would have done so when she was prime minister and had an opportunity to unite with other countries against compliance.
Those articles are nothing more than an attempt to capture readers, especially those who are critical of every decision Trump has made or will make.... And this is no small reader base.
This reminds of Braveheart when the king threw his son's friend out the window after he offered the king advice.
Yes, if the US says let us drink drainwater, let's, because they always act in the best interest of the Caribbean
That one flew right over your head didn't it?
Ok then! Well i am of the opinion that everyone is free to act in their best interest under the condition that such action will not compromise the basic rights of others. Please do help me clear up my ignorance wrt how FATCA compromises our basic rights.
Never said that you were ignorant bro. What you have to realize is that our politicians would use this information for political means. Would you feel comfortable with your financials exposed for anyone caring to take a look? Forget that sheit about US citizens only. Even if you are suspected of being a US citizen, or having passed money through the US banking system, your information can be pulled. Forget that sheit about "cocoa in the sun" from a meddlesome US Ambassador. The PNM controls the mechanism by which someone's information is targeted, so do you think that they would flag themselves or their financiers? Do you think that the UNC would also no react in the exact same way? This goes further to our expectation of privacy in our affairs, and if the US wants this grand monitoring scheme, fine, but let them implement and enforce it with their considerable means, not by proxy, or threats, or PNM agents like Al-Wari and Imbert.
The most frightening thing is that your information can be pulled, shared and used without you ever knowing, and once there are no rigid, INDEPENDENT( if that exists in T&T) checks and balances, then I could never just blindly support this legislation.
Yeah they might use it for political means but here's what, the USA doesn't care about that. The federal reserve and the Congress care about money that cannot be traced and is assumed to be financing terrorism. And unless you have yourself waistdeep in corruption, you have nothing to worry abouts.
Trinispougla wrote:DG. I have nothing to worry about. I'm a citizen of TT so I don't have to worry about US taxes. I don't finance terrorism either. I am however very concerned that if this bill does not pass, all USA financial transactions will have a 30% tax on them. Imagine a six billion dollar good import bill and half of the retailers are now subject to the punishments of not implementing fatca
EFFECTIC DESIGNS wrote:so what happens if we do not become compliant? lets say the opposition refuses to support this bill what is the worst that could happen?
bluesclues wrote:bluefete wrote:dude2014 wrote: There are other Countries/Currencies that Trinidad can trade with.
The USA invaded Libya and Iraq because Gaddaffi and Saddam wanted to create alternative currencies to the $US.
They were requesting payment for oil in gold and not usd. Usa would have to jump through too many hoops buying gold to buy oil and it would cripple business so a conspiracy to war and invade iraq was the 'patriotic' decision to preserve american's way of life.
Trinispougla wrote:De Dragon, at nauseam. The bill has nothing to do with politics. It is a simple bill designed at trying to squeeze the sources of finance for terrorism. The pnm or UNC have nothing to do with it except that they have to pass it so TT could be compliant. The previous government brought it three times to the parliparliament without bringing it to a vote. The government changed but the obligations still need to be met. And de Dragon, I doh know what sort of pseudo-military junta country you feel we living in but no government in TT ever try to dig into people personal info to see if they support them or not.Two attempted coups is proof of that.The closest thing was when they was calling ur house number during the last election which was more irritating than scary and manning spying on ppl. U feel is 70s Chile or Argentina we living in?
De Dragon wrote:Trinispougla wrote:De Dragon, at nauseam. The bill has nothing to do with politics. It is a simple bill designed at trying to squeeze the sources of finance for terrorism. The pnm or UNC have nothing to do with it except that they have to pass it so TT could be compliant. The previous government brought it three times to the parliparliament without bringing it to a vote. The government changed but the obligations still need to be met. And de Dragon, I doh know what sort of pseudo-military junta country you feel we living in but no government in TT ever try to dig into people personal info to see if they support them or not.Two attempted coups is proof of that.The closest thing was when they was calling ur house number during the last election which was more irritating than scary and manning spying on ppl. U feel is 70s Chile or Argentina we living in?
It seems like you were asleep, or away when the SAUTT was spying on:
The UNC’s head office
Constituencies offices of UNC members of parliament
Kamla Persad Bissessar Anand Ramlogan Suruj Rambachan Gerald Yetmin Wade Mark Manohar Ramsaran Roodal Moonilal
Roy Augustus Winston Peters Robin Montano Jack Warner Fuad Khan Carolyn Seepersad Bachan Winston Dookeran Gary Griffith Anil Roberts Ashworth Jack Keith RowleyChief Justice Sat Sharma, his wife Kalawati Sharma and his son Shiv Sharma
Justice Herbert Volney Justice Narine Madam Justice Carol Gobin
Dale Enoch Sasha Mohammed Shelly Dass Francis Jospeph Ian Alleyene Inshan Ishmael Ken Ali Devant Maharaj Peter O’Connor Camini Marajh.
Dozens of others were also on this list with diverse personalities such as Ato Boldon to Rachel Price.
Think about WHY we're not like '70's Chile or Argentina, then come back with a non-utopian, all men are good type answer.
eliteauto wrote:yet to see said evidence of spying clans and no the empty manilla folder Kamla waved in Parliament doesn't count
De Dragon wrote:eliteauto wrote:yet to see said evidence of spying clans and no the empty manilla folder Kamla waved in Parliament doesn't count
Yet you lapped up the "emails" left in the mailbox without any question.Convenience seems to be a suit that you wear well.
eliteauto wrote:De Dragon wrote:eliteauto wrote:yet to see said evidence of spying clans and no the empty manilla folder Kamla waved in Parliament doesn't count
Yet you lapped up the "emails" left in the mailbox without any question.Convenience seems to be a suit that you wear well.
show me where I did, stop projecting your behaviour on others
eliteauto wrote:put up or shut up, you made allegations and I must disprove them?
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