Barbados International Business Minister, Donville Inniss recently announced that the Freundel Stuart administration and the United States have agreed to start negotiations with respect to an Inter-Governmental Agreement (IGA) that will give effect in Barbados to the provisions of the Foreign Account Tax Compliance Act (FATCA).
FATCA, enacted by the US Congress in 2010 and taking effect on July 1, 2014, is intended to ensure that the U.S. obtains information on accounts held abroad at
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