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FATCA

*UPDATED*2014-06-06*

Registrants and Licencees of the Financial Services Commission are asked to note that the Governments of Barbados and the United States of America (US) have agreed to commence negotiations with respect to an Inter-Governmental Agreement (IGA) that will give effect in Barbados to the provisions of the Foreign Account Tax Compliance Act (FATCA) a federal law of the United States of America. On February 3, 2014 the Minister of International Business on FATCA issued a statement announcing this development, a copy of which may be viewed here.

The Central Bank of Barbados and Invest Barbados, as lead coordinators and negotiators for Barbados in respect of this initiative, have released a Report of the Task Force on FATCA implementation in Barbados and a Proposed Action Plan for FATCA implementation. These documents are provided for information purposes only.

Attachments:
Download this file (Revised Action-action plan for FATCA implementation - Final-updated-2014-05-01 ()Revised Action-action plan for FATCA implementation - Final-updated-2014-05-01 (286 kB
Download this file (Update on the Status of the Negotiations on the Foreign Account Tax Compliance A)Update on the Status of the Negotiations on the Foreign Account Tax Compliance A64 kB
Download this file (FATCA REPORT - Outcome of Negotiations - Final.pdf)FATCA REPORT - Outcome of Negotiations - Final.pdf220 kB
Download this file (Report of the Task Force on FATCA implementation.pdf)Report of the Task Force on FATCA implementation.pdf1060 kB
Download this file (Statement of the Minister 2014.pdf)Statement of the Minister 2014.pdf270 kB
Download this file (Proposed Action Plan for FATCA implementation 2014.pdf)Proposed Action Plan for FATCA implementation 2014.pdf379 kB