US FATCA - UPDATE

US FATCA - Foreign Account Tax Compliance Act

The Governments of Guernsey, Jersey and the Isle of Man have announced their intention to negotiate partnership agreements with the United States of America to implement FATCA. 

These agreements will follow the model intergovernmental agreement published by the US Government on 26 July 2012 and will be similar in form to the agreement between the United Kingdom and the USA signed on 12 September 2012. This follows consultation with industry representatives, who have given their support for the proposed course of action.

For further information or to discuss the implication of this Act on your organisation please refer to your usual contact at DCS or Alexey Katulevskiy direct on ayk@direct-capital-solutions.com or T.  +7 985 998 8860.