Copying and distributing are prohibited without permission of the publisher

More jurisdictions sign up to bilateral approach to FATCA compliance

10 October 2012

Email a friend
  • Please enter a maximum of 5 recipients. Use ; to separate more than one email address.


The British Crown Dependencies of Guernsey, the Isle of Man and Jersey are the latest jurisdictions to announce that they hope to negotiate intergovernmental agreements with the US to implement FATCA.

The three governments say they have taken this decision after consulting with their own financial services industry. The three have already held joint talks with the US.

"Entering into this type of arrangement highlights the cooperative approach of the Crown Dependencies to international tax matters," said Peter Harwood, Guernsey's Chief Minister.

"Basing FATCA implementation on an intergovernmental agreement is preferred by our industry and I am pleased to confirm our intention to follow this approach with the US Government," said Eddie Teare, the Isle of Man's Treasury Minister.

"Implementing FATCA is necessary for our finance industry to remain competitive and doing so through an intergovernmental agreement is considered to be the best course to adopt," said Jersey's Chief Minister, Senator Ian Gorst.

The agreement each jurisdiction will sign will follow the model intergovernmental agreement published by the US government in July and will be similar to the agreement the UK signed with the US in September.






International Tax Review Profile

Happy Friday to all our new followers :) @bizdebate @ICAEW @alieholder @ShuliLevyMC @pdsmithuk @ProTraderTax @tobyjward @MustafaTekdere

Oct 31 2014 10:01 ·  reply ·  retweet ·  favourite
International Tax Review Profile

RT @EY_Tax: Australian Labor Party to introduce Private Member's Bill to accelerate #Disclosure of >$100m corporate tax entities' tax paid …

Oct 30 2014 03:51 ·  reply ·  retweet ·  favourite
International Tax Review Profile

RT @CommonsPAC: Interesting point by @Shell Alan McLean in a breakout-business supports transparency for a purpose, not just for the sake o…

Oct 30 2014 03:49 ·  reply ·  retweet ·  favourite
International Tax Review Profile

#PACtaxconf keynote speaker #JustinKing ex-CEO @sainsburys legitimate for business should take part in #tax debate http://t.co/WiRLBhdnnX

Oct 30 2014 02:38 ·  reply ·  retweet ·  favourite
International Tax Review Profile

RT @IrishTimesBiz: German commissioner floats proposal for EU levy on Google http://t.co/lbpe5K4ILu

Oct 30 2014 01:18 ·  reply ·  retweet ·  favourite
International Correspondents

After the Irish budget, what would make you more likely to put more substance into Ireland?