January 26, 2012
By NEIL HARTNELL
Tribune Business Editor
NO SINGLE foreign law is likely to impact the Bahamian financial services industry more than the US Foreign Account Tax Compliance Act (FATCA), a well-known accountant telling Tribune Business yesterday its effects would be "the same or greater" than previous international efforts.
Lawrence Lewis, a partner at Deloitte & Touche (Bahamas), said that while the likes of the US Qualified Intermediary (QI) initiative, and OECD/FATF efforts, had tended to focus on one particular aspect of the financial services industry, Washington's FATCA initiative would touch multiple areas simultaneously.
"In order of magnitude, I would say it is t ...
Click here to read more at The Tribune
| 
| 