Cayman Islands, Guernsey and Jersey announce intention to enter into FATCA agreements with the US and UK
The respective governments of the Cayman Islands, Guernsey and Jersey have recently made separate announcements concerning their intention to enhance existing tax information exchange arrangements with the UK by way of:
- a tax information exchange agreement based on the inter-governmental agreement (IGA) that is being negotiated with the US for FATCA purposes;
- a separate reporting regime for UK resident, non-domiciled individuals;
- a disclosure facility, for use in the event that UK taxpayers wish to regularise any outstanding tax matters.
In the case of Guernsey and Jersey, it is expected that discussions to renegotiate the existing double tax arrangements with the UK will also take place. Importantly, the governments of the Islands also intend to enter into an IGA with the United States in relation to FATCA in similar terms to the IGA already entered into between the UK and the US…
If you are registered and logged in to the site, click on the link below to read the rest of the Mourant Ozannes briefing. If not, please register or sign in with your details below.
News from Mourant Ozannes
News from The Lawyer
Briefings from Mourant Ozannes
The Royal Court of Jersey has concluded that it has power under its inherent jurisdiction to sanction a compromised settlement of litigation reached by the plaintiff on behalf of a minor.
A private trust company is a privately owned corporate trustee whose sole purpose is to act as trustee to a trust or group of ‘connected’ trusts.