Ottawa awaits U.S. accommodation on tax law

OTTAWA (Reuters) – U.S. Treasury officials are working on a proposal that would make it less onerous for Canadian banks to comply with a new U.S. tax law, Canada’s Finance Minister Jim Flaherty said on Wednesday. “They’re trying to work on a more reasonable result for the Canadian banking system. We’re not a tax haven in Canada and the American provisions are really designed to get at people hiding money in tax havens,” Flaherty told reporters in Ottawa. He said he had “further discussions” with U.S. …