With several regional banking institutions yet to put in place Inter Governmental Agreements (IGAs) with the United States on that country’s Foreign Account Tax Compliance Act (FATCA), the Caribbean Association of Banks is again urging Caribbean countries to enact the necessary legislation for the implementation of FATCA.
The CAB said in a release last week that “failure to do so has far-reaching implications for banks in terms of an increase in sovereign risk and its impact on their ability to conduct business.”
