US Inks Tax Info Pact With Cayman Islands, Costa Rica

Law360, New York (December 2, 2013, 2:41 PM EST) -- The Cayman Islands and Costa Rica are the latest countries to pledge tax transparency under the Foreign Account Tax Compliance Act, the U.S. Department of the Treasury announced Friday.

Intergovernmental agreements signed by the two countries promise the exchange of taxpayer financial information designed to halt offshore tax evasion, and the pacts are the first signed in the Caribbean and Central America regions, according to the U.S. government.

“Today's announcement marks a milestone in the effort to promote global tax transparency,” Robert B. Stack, U.S. deputy...
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