Guernsey has signed a Model I intergovernmental agreement with
the US Government in relation to the Foreign Account Tax Compliance
Act (FATCA).
It was signed on Friday 13 December by Guernsey's Chief
Minister, Peter Harwood, at the US Embassy in London with the US
Ambassador to the UK, His Excellency Michael Barzun.
Guernsey's Chief Minister said: "Guernsey has been
committed to exchanging tax information since it signed its first
Tax Information Exchange Agreement (TIEA) with the US authorities
in 2002. Today we have enhanced those arrangements, and in doing so
we have further enhanced our reputation and our leadership position
on tax transparency.
"This is a further step in the direction we have been
travelling for a decade or more. FATCA is shaping the new global
standards in information exchange and once again Guernsey has shown
its commitment to meeting those new global standards decisively and
at the earliest possible juncture.
