FATCA - British Virgin Islands, United States initial final text of IGA 

March 11: Representatives of the governments of the British Virgin Islands and the United States today announced that final text of an intergovernmental agreement (IGA) for implementation of the U.S. law known as FATCA (Foreign Account Tax Compliance Act) has been initialed.

According to a March 11 release from the BVI government, the initialing of the final text clears the way for signing and implementation of the IGA.


Once the IGA is signed, foreign financial institutions in the BVI that are required to comply with the FATCA requirements will be able to report certain information on U.S. account holders to the BVI International Tax Authority that, in turn, will automatically exchange the information with the United States tax authority.




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