Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Labour calls on Government to release FATCA agreement

David

CLARK

Revenue Spokesperson
27 May 2014 MEDIA STATEMENT

Labour calls on Government to release FATCA agreement

Revenue Minister Todd McClay must release the text of the Inter-Governmental Agreement which affects tens of thousands of Kiwis who were born or have worked in the United States, Labour’s Revenue spokesperson David Clark says.

National is about to introduce legislation to ratify an agreement between the US and New Zealand which requires our Government to hand over details of Kiwis’ bank accounts. This change is in line with the American FATCA legislation which enables the US to gather information about its citizens’ offshore income.

“Labour is concerned Parliament is being asked to pass this legislation empowering an agreement that has not been seen,” David Clark says.

“Todd McClay must table the final text of the Inter-Governmental Agreement in Parliament.

“The Government is putting the cart before the horse. It is asking Parliament to pass legislation that will come into effect in July but MPs haven’t seen the substance of that agreement.

“The Government’s shifty process removes the checks and balances that come with Parliamentary scrutiny which is an important part of democracy.

“Labour members challenged the Government in select committee to assure Kiwis the agreement is reciprocal. It refused.

“It is frightening National is willing to put the privacy of law abiding Kiwi citizens at risk without requiring a two-way agreement.

“The Government left its negotiation run too late. It appears to have backed itself into a corner. It must now pass this law or the US will place unsustainable penalties on the New Zealand banking system.

“Labour is committed to reducing tax avoidance and a reciprocal agreement would give the Government another tool,” David Clark says.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On Bank Scandals (And Air Crashes)

Last month, the Australian Securities and Investment Commission (ASIC) filed proceedings against Westpac over activities that have some distinct echoes of the Libor scandal. More>>

Budget: Health Funding Must Keep Up With Need

NZNO: “The nursing team has been doing more with less for years. It’s getting to the point that we’re really worried about our colleagues, our patients, our jobs and the level of health care available for people in our country." More>>

ALSO:

Emissions Inventory: Time For The Government To Do The Right Thing

It’s time for the National Government to step up and do the right thing to reduce climate pollution as data shows New Zealand’s greenhouse gas emissions are higher than ever, the Green Party said today. More>>

ALSO:

Budget 2016: More Partnership Schools To Open

Seven new schools will join the eight Partnership Schools already open, along with further new schools opening in 2017. “The growth of this policy is a reflection of the high level of interest from educators and community leaders,” Mr Seymour says. More>>

ALSO:

No Correspondence With English: Did Brownlee Make Up Sale Of Navy Ships ‘On The Hoof?’

Having revealed that several Royal New Zealand Navy vessels have not left port in years, New Zealand First is now asking the Minister of Defence to prove he did not come up with the idea of selling HMNZS Taupo and Pukaki until the media asked him. More>>

Housing Plans: Labour- Abolish Auckland Urban Boundary
The Government should rule out any possibility of an urban growth boundary in Auckland Council’s Unitary Plan if it is serious about fixing the housing crisis. More>>
Greens - State House Solution
The Homes Not Cars policy allows Housing New Zealand to retain its dividend and, in addition, would refund its tax, to spend on the emergency building of around 450 new state houses. More>>

ALSO:

Houses And Taxes: Post-Cabinet, Pre-Budget Press Conference

The Prime Minister said that the pre-budget announcements showed that his Government is “investing in a growing economy”. He re-affirmed the National Government’s commitment to lowering personal tax rates but that any such change must fit with the fiscal reality of the time. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news