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FATCA Takes Effect This Month

  • 04-08-2015 5:53am
    #1
    edward2222
    Registered Users, Registered Users 2 Posts: 116 ✭✭


    Credit to: Offshore News : http://www.offshorenewsflash.com/2015/07/22/fatca-takes-effect-next-month/
    Effective August 17, financial institutions in Jamaica will be required to transmit relevant financial information to Tax Administration Jamaica (TAJ) – the competent authority – on persons who reside permanently in the United States (US) or persons who earn a substantial amount of their income from or within the United States.

    So it begins....


Comments

  • #2
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    edward2222 wrote: »
    Credit to: Offshore News : http://www.offshorenewsflash.com/2015/07/22/fatca-takes-effect-next-month/



    So it begins....

    Still not got the hang of the whole THIS IS AN IRISH SITE concept I see!

    I'm sure all the Boards users, who make their money in the US and keep it in Jamaica will thank you for this tidbit... ;)


  • #3
    nompere
    Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭nompere


    barneystinson wrote: »
    Still not got the hang of the whole THIS IS AN IRISH SITE concept I see!

    I'm sure all the Boards users, who make their money in the US and keep it in Jamaica will thank you for this tidbit... ;)

    While the first part of your response is perfectly true, FATCA does apply in Ireland - and only two weeks ago the Revenue Commissioners published a 20 page supplementary document of FAQs. That followed a 102 page document issued last October.

    Irish-resident US citizens do need to be aware of what information is being passed to IRS in relation to their affairs in this country.


  • #4
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    nompere wrote: »
    While the first part of your response is perfectly true, FATCA does apply in Ireland - and only two weeks ago the Revenue Commissioners published a 20 page supplementary document of FAQs. That followed a 102 page document issued last October.

    Irish-resident US citizens do need to be aware of what information is being passed to IRS in relation to their affairs in this country.

    Oh I know that, but the pertinent information isn't a link to its introduction in Jamaica, is it! :D


  • #5
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    I have been dealing with FATCA requests at work for months now. Nothing new in this.


  • #6
    jcon1913
    Registered Users, Registered Users 2 Posts: 803 ✭✭✭jcon1913


    barneystinson wrote: »
    Oh I know that, but the pertinent information isn't a link to its introduction in Jamaica, is it! :D

    I thought INFACTA went out of style when Bertie left government !


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