The Republican national committeeman leading the charge against the Foreign Account Tax Compliance Act says it may be some time yet before it’s repealed.
On Friday, Solomon Yue’s resolution passed, making it Republican party policy to repeal the Act.
Last December, chief minister Allan Bell signed an intergovernmental agreement under the Act which means financial institutions have to report details of their American clients to the US taxman.
Mr Yue says if the Act is repealed, that agreement no longer applies:
Clip 1
Seven arrests made as part of King Gaming fraud and money laundering investigation
Calls for Sarah's Law on Isle of Man
Chief minister: "We have a lot to take away" - as CoMin roadshows draw to a close
RTLC defends taxi tariff changes
Braddan Commissioners spending nearly £750 per week on temporary traffic lights
More than 3,000 jobs added to economy since September 2021
