Tag Archive: Forget About Stashing Your Cash in the Cayman Islands

Forget About Stashing Your Cash in the Cayman Islands

                  The US Treasury has announced that the United States has signed  intergovernmental agreements (IGAs) with the Cayman Islands this week to  implement the Foreign Account Tax Compliance Act (FATCA). “Today’s announcement marks a milestone in the effort to promote global  tax transparency,” said Deputy Assistant Secretary for International Tax  Affairs Robert B. Stack. “These agreements underscore growing  international cooperation in the effort to end tax evasion everywhere.” FATCA, enacted in 2010, seeks to obtain information on accounts held by  U.S. taxpayers in other countries.  It requires U.S. financial  institutions to withhold… View Article