US Government gives T&T until February 2017 to pass FATCA legislation

Friday, September 30, 2016 - 09:00

US Ambassador John Estrada has announced that the US Government is giving this country until February 2017 to pass FATCA legislation.

The announcement comes after the Government said it had sought an extension from the US Department of Treasury for the passage of the bill.

The following is the statement from the US Ambassador:

“I wanted to take a brief moment to provide another update on FATCA.

Let me start by saying we strongly recommend that Trinidad and Tobago pass legislation no later than February 2017, in order to carry out the commitments undertaken when the FATCA agreement was signed by our two countries, and in line with the implementation plan put forward by the Government of Trinidad and Tobago.

I would remind all of Trinidad and Tobago that FATCA is just one element of the strong and broad relationship between our two countries. In fact, we have signed several bilateral agreements to expand our cooperation just within the past six months. I look forward to returning to the warm shores of Trinidad and Tobago today.