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Guernsey, Jersey and Isle of Man signed FATCA agreement with US


The agreement with the USA follows the signing of a similar agreement with the UK
13 December 2013 in London official representatives of Guernsey, Jersey and Isle of Man signed the intergovernmental agreement with the US to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA).

FATCA is a US initiative which requires financial institutions to report information on accounts held by US taxpayers.

The next step for Guernsey, Jersey and Isle of Man will be to publish Guidance Notes covering both the US FATCA agreement and the similar agreement signed recently with the UK. These notes will be issued for consultation early next year.