Concessions for NZ building societies and credit unions in draft Big Brotheresque US crackdown on tax dodgers, but bad news for KiwiSaver providers

interest.co.nz

Gareth Vaughan

10.02.2012

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The New Zealand Bankers' Association, which represents the country's banks, has been working with its Australian, Canadian and British counterparts in an attempt to get the US government to alter FATCA, which it says would cost the industry here NZ$100 million to comply with and breach New Zealand's Privacy Act.