Still no word from local banks on new US tax compliance law

While the commercial banking sector in Guyana is yet to make a pronouncement on how it is likely to respond to the US’s new Foreign Account Tax Compliance Act (FATCA) which requires the banks to submit to the Internal Revenue Service (IRS) financial information on clients deemed by Washington to be “persons of interest,” the new law, which comes into effect in January 1, 2013 is making waves in social, political and business circles in Jamaica.

Indeed, the new law has already triggered discussions between some commercial banks in Jamaica and the local regulator, …..To continue reading, login or subscribe now.

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