Jamaica is now the the latest jurisdiction to raise the possibility of concluding a bilateral agreement with the United States to implement the Foreign Account Tax Compliant Act (FATCA).
FATCA, which was enacted in 2010 by the US government as part of provisions under the Hiring Incentives to Restore Employment (HIRE) Act, is an important development in efforts by the US to combat tax evasion by US taxpayers with investments in offshore accounts.
(More: Caribbean banks concerned about
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