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Aug 21, 2013

Cayman Islands Government Announces FATCA Intergovernmental Agreement

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The Cayman Islands government announced on August 13, 2013 that it has concluded negotiations with the US government on a “Model 1” intergovernmental agreement (“IGA”) with respect to the US Foreign Account Tax Compliance Act (“FATCA”) and a new tax information exchange agreement (“TIEA”). Both countries have initialed the agreements and stated that the official signing will be held as soon as possible. Like the IGAs the US government has signed with other foreign governments, the Cayman Islands IGA is intended to streamline FATCA information reporting and reduce compliance burdens for Cayman Islands financial institutions.

View full memo, "Cayman Islands Government Announces FATCA Intergovernmental Agreement"

Authors and Contributors

Roger Baneman

Of Counsel

Tax

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+1 212 848 4894

New York

Laurence Crouch

Partner

Tax

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+1 650 838 3718

Menlo Park

Kristen Garry

Partner

Tax

+1 202 508 8186

+1 202 508 8186

Washington DC

Michael Shulman

Partner

Tax

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+1 212 848 8080

New York

Practices