USA Tax evaders can soon be caught in Guyana
Guyana has formally agreed to share bank account information about Americans and American companies in Guyana to help the United States (US) catch tax evaders in foreign jurisdictions, the Government Information Agency (GINA) ,
The agency noted that if Guyana did not conclude an Inter Governmental Agreement (IGA) with the US’ Internal Revenue Service (IRS), banks and other financial institutions operating here could have been subjected to a 30 percent withholding tax on certain payments, including US source interest and dividends, and gross proceeds from sales of US securities.
Finance Minister, Dr. Ashni Singh said Guyana said the IGA, concluded in substance, is in accordance with the U.S. Foreign Account Tax Compliance Act (FATCA). Continue reading