FATCA

AG: Opposition is running away from debating FATCA reciprocity clause

Attorney General Faris Al-Rawi is arguing that the Opposition walked out of Parliament today only because they did not want to debate the reciprocity of information under the FATCA legislation.

SEE VIDEO BELOW

Speaking on the legislation in the Parliament following the Opposition's walkout, Al-Rawi said it is his belief that the Opposition if afraid of what the reciprocity of financial information would disclose.

The AG's position is in the video below.

US Government gives T&T until February 2017 to pass FATCA legislation

US Ambassador John Estrada has announced that the US Government is giving this country until February 2017 to pass FATCA legislation.

The announcement comes after the Government said it had sought an extension from the US Department of Treasury for the passage of the bill.

The following is the statement from the US Ambassador:

“I wanted to take a brief moment to provide another update on FATCA.

December 31 deadline for FATCA compliance

As Government and the Opposition continue to publicly battle over who is to blame for this country’s failure to pass Foreign Account Tax Compliance Act (FATCA) legislation, there is new information from the United States’ Internal Revenue Service (IRS) that the critical date for the international agreement to become effective is December 31 and not September 30.

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