{"id":48195,"date":"2014-02-07T09:47:21","date_gmt":"2014-02-07T14:47:21","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/target\/us-canada-sign-agreement-to-halt-offshore-tax-evasion-in-the-caribbean"},"modified":"2014-02-07T10:24:57","modified_gmt":"2014-02-07T15:24:57","slug":"us-canada-hit-out-at-offshore-tax-evasion-in-caribbean","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2014\/02\/us-canada-hit-out-at-offshore-tax-evasion-in-caribbean","title":{"rendered":"US, Canada Hit Out at Offshore Tax Evasion in Caribbean"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-43995\" title=\"tax\" src=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2013\/11\/tax.jpg\" alt=\"\" width=\"200\" height=\"150\" srcset=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2013\/11\/tax.jpg 200w, https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2013\/11\/tax-150x112.jpg 150w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/>The United States Department of the Treasury says it has signed intergovernmental agreements (IGAs) with Canada to halt offshore tax evasion in the Caribbean and other countries through implementation of the Foreign Account Tax Compliance Act (FATCA).<\/p>\n<p>On Wednesday, the Treasury Department said similar agreements were signed earlier this week with Hungary, Italy and Mauritius.<\/p>\n<p>The department noted that the US Congress enacted the FATCA in 2010 to \u201ctarget non-compliance by US taxpayers using foreign accounts,\u201d including those in the Caribbean.<\/p>\n<p>\u201cThe provision has since become the global standard for promoting tax transparency,\u201d said the statement, adding that the United States has signed 22 IGAs and \u201chas 12 agreements in substance to date.\u201d<\/p>\n<p>\u201cFATCA implementation is critical to combating international tax evasion and promoting transparency,\u201d said Deputy Assistant Secretary for International Tax Affairs Robert B. Stack.<\/p>\n<p>\u201cThe agreements announced today clearly demonstrate the considerable international support behind FATCA, and we are proud to lead the global charge on this pressing issue,\u201d he added.<\/p>\n<p>FATCA seeks to obtain information on accounts held by U.S. taxpayers in other countries. It requires US financial institutions to withhold a portion of certain payments made to foreign financial institutions (FFIs) that do not agree to identify and report information on US account holders.<\/p>\n<p id=\"mct-ai-attriblink\"><a href=\"http:\/\/www.caribbean360.com\/business\/1106450.html\" target=\"_blank\">Click here to read the complete article at www.caribbean360.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The United States Department of the Treasury says it has signed intergovernmental agreements (IGAs) with Canada to halt offshore tax evasion in the Caribbean and other countries.<\/p>\n","protected":false},"author":17,"featured_media":43995,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[10],"tags":[108,113],"class_list":["post-48195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-taxes","tag-united-states"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/48195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=48195"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/48195\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media\/43995"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=48195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=48195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=48195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}