The Caymans, made famous as a tax haven by dozens of popular - TopicsExpress

The Caymans, made famous as a tax haven by dozens of popular movies long before Mitt Romney’s use of the island as a home for his money became a 2012 campaign issue, appears to be embracing FATCA. The law offers a menu of different options for countries to comply with its information sharing requirements, and the Caymans have chosen the one that places responsibility with the government rather than with private companies. Under the agreement struck this month, Bloomberg reports, the Cayman government will be responsible for collecting information on American-held bank accounts valued at over $50,000.

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