FATCA (Foreign Account Tax Compliance Act)
A FATCA model 1 A agreement was signed between Barbados and the United States of America (US) at Bridgetown on November 17, 2014. Under this agreement, Both Barbados and the US will collect Bank account and other prescribed information on each other's citizens and transmit it to the Revenue Authority of each country. Prior to September 30, 2015, Barbados will pass FATCA regulations and negotiate a Competent Authority Agreement between the Barbados Revenue Authority and the US Internal Revenue Service to operationalise FATCA
Presentation by Mr Elson Gaskin
Bank Secretary of the Central Bank of Barbados and Chairman of the Task Force on FATCA Implementation in Barbados.
Presentation by Mr Peter Whitehal
Advisor to the Governor of the Central Bank of Barbados and member of the Task Force on FATCA Implementation in Barbados.