Cayman Islands adopt Model 1 Intergovernmental Agreement
The government of the Cayman Islands announced that it would adopt a Model 1 intergovernmental agreement (IGA) in response to the U.S. Foreign Account Tax Compliance Act (FATCA).
According to the Cayman Islands' government release (15 March 2013), the Minister for Financial Services made the announcement from the floor of the Legislative Assembly, and also said that a similar arrangement for the automatic exchange of certain information with the United Kingdom will apply.
Read text of the Model 1 IGA on the U.S. Treasury Department website.
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