Regional News

T&T warned: ‘Pain ahead if FATCA law not passed’

Bankers Association vice-president Nigel Baptiste, right, makes a point during a news conference on the Foreign Account Tax Compliance Act legislation at Republic Bank, Park Street, Port of Spain, yesterday. Accompanying him, from left, are chief executive of the American Chamber, Nirad Tewarie; president, Association of Trinidad and Tobago Insurance Companies, James Camacho; and CEO of the Trinidad and Tobago Chamber of Commerce, Catherine Kumar.

(Trinidad Express) Small and medium-sized businesses could be crippled and the man on the street could find himself unable to wire transfer as little as TT$200 to relatives abroad if the Foreign Account Tax Compliance Act (FATCA) legislation is not passed by the September 30 deadline given by the United States.

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