Film Screening: Into Eternity
Location: Fonction Cinema, Maison des Arts du Grutli Street address rue General-Dufour 16, Geneva
Link out: http://www.democrats.ch
Date: 9 Feb 2012
Start time: 20:00
End time: 22:30
Come watch and discuss this Oscar-nominated documentary on the booming business of ‘fracking’ for natural gas in the USA.
Hosted by Democrats Abroad Geneva and Sierra Club Geneva
Film starts at 20:00 / 8:00 pm (Doors Open at 7:00 pm)
7:00-8:00 DiscussionCinema Entrance : 11 rue de la Coulouvrenière, 1st Floor Cost: Free Admission but donations for Sierra Club welcome to cover costs
Schedule:
7:00 Doors open (drinks available for purchase, cash only)
7:00-7:45 Discussion and collection of signatures for petitions
7:45 Introduction by Green Peace Switzerland
8:00 Gasland (107 minutes, in English with French subtitles)
Followed by Open Discussion led by DA Geneva and Sierra club Member Mark Pasquesi
Please feel free to stay until 11 pm for more conversation and flaming drinks!!
Location: Spoutnik, 11 rue de la Coulouvrenière, 1st Floor
Link out: http://www.democrats.ch
Date: 5 Dec 2011
Start time: 19:00
End time: 23:00
US pressure on Swiss for bank names accompanies Fatca, FBar pressure on overseas Americans
Paradeplatz in Zurich: Credit Suisse
ZURICH, SWITZERLAND – Two Swiss-German newspapers spilled the news Sunday 4 September that the US is pressuring Switzerland with a short deadline and legal threats over bank data related to Americans suspected of hiding taxable assets in Switzerland. SonntagsZeitung and NZZ write that the US is demanding that Swiss bank Credit Suisse and several other banks hand over the names of a significant number of bank clients by Tuesday 6 September.
The newspapers are basing their information on details that are reportedly part of a three-page letter written by US Deputy Attorney General James Cox to Swiss diplomat Michael Ambuhl, threatening legal action if US demands are not met to furnish the names of US clients who handed the banks $50,000 or more between 2002 and 2010.
The story is being widely covered by media outside Switzerland as part of a Swiss banks and “tax cheats” saga, an over-simplification of a situation that has many threads, only one of which is how wealthy Americans or green card holders hide their money abroad.
FATCA, FBar the new overseas American tax lingo
American Citizens Abroad is calling for US Fatca legislation to be repealed
The news comes as US citizens abroad grapple with the implications of two extended deadlines: a very short deadline extension to 9 September announced at the end of August by the IRS, the tax arm of the US government, to come forward if they have not filed FBar forms in the past, and the recent one-year extension to 2014 of implementation of the new Fatca (Foreign Account Tax Compliance Act) legislation.
Under Fatca, foreign banks will have to announce, to the US, assets of American citizens who are clients, whether they are based in the US and using offshore services or resident abroad and using the bank to handle daily banking needs, including regular payments such as rent or mortgages, salaries and pension funds or trusts that are their main source of income.
American Citizens Abroad, a non-profit group based in Geneva that works closely with both Republican and Democrat groups for American citizens living outside the US, says that Fatca is “using a bulldozer to go after an ant hill” and that the price to the US will ultimately be too high. The group wrote, in a 31 August letter to US Secretary of the Treasury Timothy Geithner and top US tax officials demanding that Fatca be repealed, that
“Fatca will provoke a serious backlash from foreign governments who find it unacceptable, and rightly so, that the United States unilaterally extend US law worldwide.
This is financial imperialism. At a time when the United States needs the cooperation of the rest of the world to help resolve its major domestic debt problems and to reinvigorate its economy, it is counter-productive and dangerous to provoke foreign governments and force their financial institutions to become the policemen of the IRS, by requiring that they spend billions of dollars in compliance for the sole benefit of the IRS, and to force them to break their own domestic laws to do so.”
Spotlight on Credit Suisse, but it’s not the only targeted Swiss bank
Supported by Democrats abroad: The Rally is politically neutral, and will take place in Geneva as a “flash mob,” in which supporters gather for a few minutes and then quickly disperse. In Zurich, Democrats Abroad and supporters will be gathering to watch the Washington Rally live on television from Regenbogen Bar from 18:00.
Location: Parc des Bastions, Geneva
Link out: http://blog.democrats.ch/
Date: 30 Oct 2010
Editor’s note: the meeting in Geneva invoked the Chatham House Rule to encourage open discussion, so no names or identities of participants and presenters can be revealed
Geneva, Switzerland (GenevaLunch) - Confusion replaced 2009′s anger and a black mood when a group of mainly Americans gathered in Geneva for the second time in nine months to learn more about their obligations to Uncle Sam’s tax arm, the IRS. US citizens, green card holders and others who potentially owe the American government tax money, or even just forms, met at Webster University Tuesday 4 May to hear from a group of experts what their obligations might be.
The result was an evening that focused primarily on how to invest your money if you live outside the US, in order to avoid problems with the Justice Department or the IRS. An earlier meeting at Webster in September 2009, organized by American Citizens Abroad with support from Democrats Abroad and Republicans Abroad, was held just days before a US amnesty deadline for people to declare foreign assets held abroad. That meeting drew twice as many people and a younger crowd.
The September evening was notable for the shock it gave many who attended, about “non-compliance” issues and the obligation to file an Fbar (foreign assets) form.
This week’s meeting brought together four specialists in tax consulting, estate planning and legal issues. The longer-term focus meant there was less of a sense of panic in the crowd. Speakers offered several surprises about the increasingly complex tax payment system, and 10 of 13 people randomly questioned individually by GenevaLunch in the 24 hours after the meeting characterized it as “depressing”, if helpful.
Taxpayers face confusing changes in rules, application of them
The speakers outlined several problems:
- there are a number of recent and upcoming changes to taxation regulations, most of which appear to be poorly understood by US citizens living overseas
- changes have been implemented in an irregular pattern over time, creating uncertainty for taxpayers
- US citizens abroad are caught in the gap between US banks that don’t want them and Swiss banks that refuse them, adding to mortage, pension plan and others investment dilemmas.
Among the changes
2008: the Heart Act, amended expatriation procedures and includes succession tax – “much discussed but seldom implemented” says one Geneva meeting expert
2009: voluntary disclosure programme, under which 14,500 people took advantage of the amnesty
2010: the Hire Act – gifts, annuities, insurance pulled in for Fbar reporting of foreign assets, but no guidelines have been issued yet about how this will be implemented
Fbar: The Treasury has now gone back to its 2000 definition of who is a US Person for filing purposes, after “going overboard on that” one speaker says, and it exempts some people for some assets in earlier years (IRS notes on the change)
Grats, which cover the transfer of assets of family owned business is being reviewed
The exclusion for gifts to “alien spouses” is $134,000 in 2010 but is dropping to $60,000
Estate tax credit and exemption levels: 2009 applicable estate tax credit was $1.46 million, no estate tax in 2010 and credit in 2011 will be down to $345,8000. Available exemption in 2009 was $3.5 million and in 2011 it drops to $1 million.
“Land of the free – I used to really believe that”
Those attending who said the meeting had depressed them gave several reasons: the difficulty of understanding what one person called the “foreign language of tax jargon” (see “US tax mini jargon buster”), a sense of abandonment by a US government indifferent to the reality of the lives of its citizens abroad, frustration that too many Americans who live in the US wrongly see those abroad as a spoiled group of tax dodgers, and ultimately, a costly and unjust inability to plan.
“The right to plan – isn’t that what someone said the last time?” asked one woman. She was recalling a speaker who argued that under a fair system all taxpayers should have the right to plan for the future, but that current US tax rules make this impossible for many people abroad.
She and others chafed that even tax and estate planning experts fail to understand the needs of US citizens married to people from other countries, who often want little to do with the complex US tax structure.
Title: Town Hall Evening: US banking and taxation
Location: Bellevue, Geneva
Link out: Click here
Description: Experts in banking, investments, legal and taxation will be on hand to present current US regulations and changes that will effect all Americans living overseas. Co-sponsored by American Citizens Abroad, Democrats Abroad and Republicans Abroad.
Date: 2010-05-04
US President Barack Obama at his inauguration
Geneva, Switzerland (GenevaLunch) – US Democrats Abroad are launching a Get Out the Vote campaign worldwide to encourage Americans to register to vote early enough to participate in the November 2010 congressional elections. The group manages a web site, www.votefromabroad.org, where voters can order absentee ballots, and which offers them voter information.
Democrats Abroad is the official overseas branch of the US Democratic Party and has members in more than 160 countries. It is keen to get Americans abroad voting in the hope of holding onto a strong Democratic majority. There are 435 House elections and 36 Senate elections in November.
“Just over a year ago, we saw history being made before our eyes,” says Christine Schon Marques, the Geneva-based president of Democrats Abroad.
Our first visitor, from Democrats Abroad! Come and have your photo taken in a GenevaLunch.com shirt.
GenevaLunch has a booth at the Leman Expat Fair in Morges at the Beausobre theatre, Sunday 27 September, 10-17:00. Stop by and say hello!
See also: part 2 – Taxes overboard! Americans reconsider the IRS at the Geneva T party
and part 1: US-Swiss treaty details may not come in time to help US citizens abroad
[Update 3, 21 September: note that the IRS has announced it will delay the deadline to 15 October 2009, from 23 September - details here; correction added to point 5 below] Geneva, Switzerland (GenevaLunch) – US citizens and greencard holders living outside the US should be aware of new tax rules, but also new enforcement procedures, according to several groups and tax experts who organized a taxpayers’ information evening 2 September in Geneva: American Citizens Abroad, Democrats Abroad and Republicans abroad. Many US taxpayers living in Switzerland and elsewhere have only gradually become aware during 2009 that the IRS (US tax authority) has imposed new rules, a six-month amnesty that ends 23 September and it is taking a tougher stance with “non-compliant” taxpayers. Rumours have been thick on the ground, but hard facts few.
See also: part 1 – US-Swiss treaty details may not come in time to help US citizens
part 3 – What has changed for US taxpayers living abroad
[Update 3, 21 September: note that the IRS has announced it will delay the deadline to 15 October 2009, from 23 September - details here]
Geneva, Switzerland (GenevaLunch) - Many US taxpayers living in Switzerland and elsewhere have only gradually become aware during 2009 that the IRS (US tax authority) has imposed new rules, a six-month amnesty that ends 15 October and it is taking a tougher stance with “non-compliant” taxpayers. Rumours have been thick on the ground, but hard facts few.
The Geneva T for taxes party
The situation came to a head at a highly emotional meeting in Geneva Wednesday evening 2 September, when 200 American expatriates, citizens and green card holders, gathered at Webster University to learn about recent shifts in the tax situation, what has brought it about and what the implications are.
See also: part 2 – Taxes overboard! Americans reconsider the IRS at the Geneva T party
part 3 – What has changed for US taxpayers living abroad
[Update 3, 21 September: note that the IRS has announced it will delay the deadline to 15 October 2009, from 23 September - details here]
Geneva, Switzerland (GenevaLunch) - The Swiss government announced Friday 11 September that it is authorizing its finance and foreign affairs ministries to sign a new double taxation agreement with the US to replace the current one, which dates back to 1996. The step may ease nervousness among some Americans in Switzerland and elsewhere outside the US – as long as it means that details of the new treaty are published soon.
A Swiss government spokesperson told GenevaLunch 11 September that it’s impossible to know when the two Swiss departments will actually sign the treaty. Parliament retains the right to vote on it, as well, once the departments sign, and as yet there is no clear indication if parliament will or will not exercise this right.
Some US citizens and greencard holders who live overseas know that they are considered non-compliant under IRS (US tax authority) rules which are being more stringently enforced in 2009, and they are debating coming in from the cold. Others are only becoming aware they may not be fulfilling their US tax obligations, even though they assumed they were.
Geneva, Switzerland (GenevaLunch) – The US federal budget for 2010 covers an 8 percent funding increase for the IRS tax authority. The International Tax Review in its August issue notes that the “increased funding would allow for the hiring of approximately 800 new IRS enforcement personnel specifically focused on offshore tax avoidance and evasion.” The tougher stance on tax collection includes changes that affect US citizens living abroad. Those who live and bank in Switzerland have been increasingly vocal in recent weeks in their complaints about problems with the US tax system and the IRS tax authority.
New IRS requirements to list foreign bank holdings, IRS regulations that are scheduled to go into effect in January 2010 as well as the end 23 September 2009 to the “voluntary compliance initiative” have caused considerable confusion. A public meeting on US taxes takes place this evening 2 September in Geneva to address the issues. The meeting is sponsored by Democrats Abroad Switzerland (DACH), Republicans Abroad and American Citizens Abroad (ACA).
Public meeting for US taxpayers
American citizens and permanent residents living abroad will have a chance to participate in the Q&A session on double taxation, reporting requirements and penalties for non-compliance.
- Date: 2 September
- Location: LLC Room at Webster University in Bellevue, Canton Geneva
- Time: Doors open at 18:30.
Background: IRS Oversight Board commends IRS for five-year strategic plan (2009-2012)
Title: Lecture: Global Issues Forum
Location: Geneva
Link out: Click here
Description: The Democrats Abroad, the official organization for members of the US Democratic Party living abroad, has launched a new series of lectures. This month, the series focuses on the economic crisis.
The guest speaker is Ambassador Peter F. Allgeier, US Ambassador to the WTO.
The event is open to everyone.
Date: 27 May 2009
Geneva, Switzerland (Le Temps, Fre) – Geneva has approved a permit for a demonstration at the Place des Nations in support of two Swiss men being held in Libya. It will take place 23 April, when the Durban review conference on racism will be in full swing in Geneva. The organizer, Stephane Valent, a right-wing UDC representative for the commune of Vernier, says that Libya’s refusal to allow the two men to leave the country is racist.
Silent auction of screen prints
Click on images to view larger. More photos in “US election and inaugural party” album. Photos: Catherine Nelson-Pollard
Geneva, Switzerland (GenevaLunch) – Democrats Abroad held an inaugaration party Tuesday night to celebrate Barack Obama’s election as president of the United States. The party, held in the wine bar in the Confederation Centre in Geneva, had a global flavour: the food was Italian, the champagne was French, the TV coverage was American and the crowd was from all over the world.
FOR UPDATED US ELECTION RESULTS: NATIONAL PUBLIC RADIO
Change, hope, dialogue and a dream
Updated 20:50 Visit the GenevaLunch US 2008 election photo gallery: images from the American International Club, Democrats Abroad and Webster University parties.
Click on images here to view larger.
Geneva, Switzerland (GenevaLunch) – Euphoria for many, quietness for a few: the election of Barack Obama as the next US president was marked Wednesday morning in Geneva by four words, repeated at all the events where election-watchers gathered: change, hope, dialogue and a dream.
