Jamaican finance minister hints at FATCA agreement with US
20 June 2012
Ralph Cunningham - ITR
Jamaica has become the latest jurisdiction to raise the possibility of concluding a bilateral agreement with the US to implement the Foreign Account Tax Compliance Act (FATCA).
At a seminar for financial services professionals on the island on June 19, Peter Philips, the Minister of Finance and Planning, said the government was talking to the US about the implications of FATCA for Jamaica.
“Even as we make our efforts, whether on the basis of bilateral interventions with the United States, or in partnership with other Caribbean countries, we will be strenuously seeking to ensure that there is no unfair advantage faced by Jamaican financial institutions,” Philips said. “If an agreement proves possible, the financial entities will be relieved of some liabilities particularly if reporting is done through the local central authorities who...
This article is available to current subscribers of ITR Premium only. Log in to ITR Premium or subscribe for access. Alternatively, take a free trial, giving you access to ITR Premium for 7 days (some articles and surveys may be excluded).
This article is available to subscribers only. To gain acess to to the rest of this article please subscribe to ITR Premium.
This articles is available to free trialists and subscribers only. To view the rest of this article please take a free 7 day trial.