Tag: FATCA
Joint statement from the Chief Ministers of Jersey and Guernsey regarding FATCA
The following joint statement has been issued by the Chief Minister of Jersey, Senator Ian Gorst, and the Chief Minister of Guernsey, Deputy Peter Harwood, on developments relating to the Foreign Account Tax Compliance Act (FATCA) and the UK Government: “As communicated last week, officials from Guernsey, Jersey and the Isle of Man continue to [...]
IGA: The New FATCA?
The likely Inter-Government Agreement (IGA) between Guernsey and the US and FATCA were the latest topics of the STEP Guernsey’s seminar series that took place this month sponsored by Collins Stewart. The seminar speaker, Tony Mancini, KPMG executive director, discussed the timing of the IGA and its implementation, where it diverges from proposed FATCA regulations [...]
Chamber of Commerce ICT group welcomes pan-island approach to FATCA
Chamber’s ICT sub-group, chaired by Marc Lainé, has welcomed the pan-island announcement on FATCA (the Foreign Account Tax Compliance Act) and indeed the collaboration between the islands’ governments on this issue. However the group believes more should be done to minimise the cost implications for businesses. Mr Lainé said this can be done in a [...]
FATCA announcements
The Governments of Jersey, Guernsey and the Isle of Man have announced their intention to negotiate “Model 1” inter-government agreements (“IGAs”) with the US in relation to FATCA. The agreements are expected to be similar to the agreement between the UK and the US signed on 12 September 2012 a copy of which can be [...]
Corporate Risk Solutions launches Risk Breakfast Briefings
The first in a series of Breakfast briefings by CRS will look at current Risk Management issues facing the local finance sector The briefings will be lead by CRS Managing Director, Darren Wadley. Darren will be looking at a number of topics that are particularly relevant to the financial services industry in the current climate. [...]
The effect of implementing FATCA provisions will go far beyond the compliance team, financial organisations are told
FATCA impact on local businesses will be significant and planning needs to start now, according to tax expert Aileen Barry of DLA Piper. Ms Barry was addressing an audience of around 50 financial services professionals at a seminar organised by local Guernsey firm Corporate Risk Solutions last week. FATCA’s aim is to mitigate tax evasion [...]
Seminar to highlight FATCA implications for local businesses
Leading expert in tax and compliance, Aileen Barry will be addressing a seminar in Guernsey later this month. The seminar, entitled FATCA – What needs to be done? has been organised by Corporate Risk Solutions and aims to assist local financial companies to identify how this new set of reporting requirements from the IRS will [...]
FATCA highlights the need for quality Information
The impending introduction of new reporting requirements has highlighted the need for companies to manage their data better, according to Channel Islands IT company C5 Alliance. Dan Hare, director and lead consultant for the business intelligence team at C5 said that continuous improvement was the key to adapting to new regulations quickly and efficiently. “FATCA [...]
KPMG’s FATCA breakfast briefing postponed
KPMG in the Channel Islands’ breakfast briefing on the draft Foreign Account Tax Compliance Act (FATCA) regulations will now take place on Thursday 23 February after the publication of the draft regulations and further guidance on FATCA was pushed back beyond the original expected date. The briefing, due to take place on 18 January, will [...]
KPMG’s breakfast briefing to review scope and likely impact of FATCA regulations
KPMG in the Channel islands is holding a breakfast briefing to summarise the draft Foreign Account Tax Compliance Act (FATCA) regulations, which are expected to be released early January, and to highlight the next steps local financial service firms should be taking to prepare for the looming deadline. Heading up KPMG’s briefing at Les Cotils [...]
