International Tax Alert - December 2013

December 2013

On November 29, 2013, the United States Department of the Treasury released a Bilateral Agreement between the United States and the Cayman Islands (“Caymans”) to implement the Foreign Account Tax Compliance Act (“FATCA”). This Intergovernmental Agreement (“IGA”) provides that the Internal Revenue Service will receive tax information regarding United States account holders at foreign financial institutions (“FFIs”) in the Caymans.