Thursday, June 21, 2012

Regulators to scrutinise FATCA - Business - Jamaica Gleaner - Wednesday | June 20, 2012

Regulators to scrutinise FATCA - Business - Jamaica Gleaner - Wednesday | June 20, 2012: "The Bank of Jamaica, Ministry of Finance and Planning, and the Attorney General's Department will be collaborating to handle the risks, costs and impact on Jamaican law of local financial institutions' compliance with United States legislation aimed at catching tax cheats under the Foreign Account Tax Compliance Act (FATCA).

With less than six months before the law takes effect, Finance Minister Dr Peter Phillips also indicated yesterday that the Government was contemplating entering into a bilateral arrangement with the United States to relieve local financial institutions of the potentially costly burden of compliance."

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