Cayman Islands agrees to report US citizens’ offshore assets under controversial law

RT.com - The Cayman Islands has signed an agreement with the United States to combat offshore tax evasion pursuant to a controversial 2010 law that has caused some notable US expatriates to revoke their US citizenship.

The US Department of the Treasury announced Friday the US has signed an intergovernmental agreement with the Cayman Islands to enforce the Foreign Account Tax Compliance Act (FATCA) in what it bills as an effort to promote transparency.  Read more.