Costa Rica 1A, Cayman 1B

Remembering the words of the late California Congressman Sonny Bono’s 1967 hit, Treasury works through the Thanksgiving holiday to spread the FATCA web farther and deeper.

Treasury announced that two havens have come into the fold. Costa Rica and Treasury will share information, while the Cayman Islands FFIs will provide info to Treasury.

Moreover, the Cayman-Treasury Tax Information Exchange Agreement of 2001 has been superseded by a new and improved model.

Meanwhile, Treasury claims 16 agreements “in substance” (the devil being you-know-where) have been reached. More to follow.

And the beat goes on.