U.S., Cayman Islands Reach Tax Deal
by Joseph M. Donegan on August 28, 2013
Falling in line with the push for greater global collaboration to combat tax evasion, the
United States and the Cayman Islands have reached a tax deal to fight violations.
The partnership - which is partially designed to encourage other low-tax and favorable
tax havens to join the U.S's anti-tax evasion legislation - means that the highlyscrutinized
Cayman Islands will participate in the Foreign Account Tax Compliance Act
set to take effect in July 2014. More specifically, the agreement "will provide certainty to
Cayman's significant fund industry with respect to FATCA implementation," said Robert
Stack, the U.S. Treasury Department's deputy assistant secretary for international tax
affairs, according to Reuters.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.