Tax havens sign up to FATCA

clock

Offshore tax havens Guernsey, Jersey and the Isle of Man are working towards an agreement with the US government on FATCA, the incoming regime to prevent tax evasion.

In a move which will improve the transparency of tax activities on the islands, the three governments said they will negotiate partnership agreements with the US, similar to the one agreed between the US and UK last month. An intergovernmental agreement is expected to be signed soon, following official discussions which have already taken place. This will then have to be ratified by the parliaments of each island before it becomes part of domestic legislation. FATCA, the Foreign Account Tax Compliance Act, is designed to force US citizens living overseas to declare their assets in acc...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Offshore Investment

New awards will celebrate excellence in Channel Islands financial services

Entries now open - deadline for submissions 8 June 2016

Professional Adviser
clock 17 March 2016 • 1 min read

Who won at the International Fund & Product Awards 2015?

Canada Life International, Schroders, and Old Mutual International among winners

Professional Adviser
clock 08 October 2015 •

Revealed: Winners of the 2015 Fund Services Awards

Firms offering services to asset managers honored at gala dinner

Professional Adviser
clock 08 October 2015 •