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Gibraltar Signs FATCA Agreement With The US

by Mike Godfrey, Lowtax.net, Washington
13 May, 2014

Gibraltar's Financial Services Minister, Albert Isola, has signed an Intergovernmental Agreement with the United States to simplify compliance with the Foreign Account Tax Compliance Act (FATCA).

The agreement, which provides for the automatic exchange of information, was signed by Isola and the US Minister Counsellor for Economic Affairs, John Nutter, at the US Embassy in London on May 8, 2014.

The signing of the IGA follows industry consultation in Gibraltar, and the publication of a report set up to consider FATCA's impact on the financial services sector in Gibraltar.

Isola said: "The signing of FATCA IGA with the United States demonstrates that Gibraltar is committed to working together with partner countries in leading the agenda on tax transparency, thereby boosting global efforts to eradication tax evasion."

Similar IGAs were signed by the Isle of Man, Jersey, and Guernsey in December last year.

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