KINGSTON, Jamaica - Myrtle Halsall, senior deputy governor of the Bank of Jamaica, is suggesting that, as a countermove, Jamaica could initiate steps to get financial information on nationals living in the United States (US) in much the same way the US authorities are seeking to do with its Foreign Account Tax Compliance Act (FATCA).
"In terms of impact on the Jamaican economy, hopefully, if there are Jamaicans who have funds abroad and are trying to evade taxes by putting it in the US, the Government could seek to boost its resources through that method," Halsall said, while participating in a panel discussion on diaspora investments and financial transactions with Jamaica at the 5th Biennial Jamaica Diaspora Conference, in Montego Bay, St James, yesterday.