AN ACT
To stop parasitic economic behavior by other nations
Be it enacted in both houses of Congress
Section 1; Title
1. This legislation may be cited as the "Penalties for Tax Shelter Nations Act"
Section 2; Amendment to More Fairness for Workers Act
1. The following requirement is added to section 3, clause 2 of the "More Fairness to Workers Act"-
"J.) The lack of an effective legal requirement for financial institutions to comply with the Foreign Account Tax Compliance Act (FATCA) or any further equivalent Atlasian legislation, so that the Atlasian government is prevented from accurately assessing the tax liabilities of its citizens."
Section 3; Implementation
1. This legislation shall take effect one year after its passage into law.
People's Regional SenatePassed 6-0 in the Atlasian Senate Assembled,[/quote]
Sponsor: Talleyrand
Status: Debating
