U.S.A.: FATCA : Bilateral agreement between the U.S.A. and Germany
Further to our Taxflash LT13033, dated 30 May 2013, concerning the German Federal Cabinet authorising the signature of an Intergovernmental Agreement (IGA) with the U.S.A., a bilateral agreement was signed on 31 May 2013 between the U.S.A. and Germany in order to implement the information reporting and withholding tax provisions known as the Foreign Account Tax Compliance Act (FATCA).
The IGA and the Declaration of Understanding are available in German on the German Federal Ministry of Finance’s website.
We will continue to monitor the implementation of FATCA and will provide more information as it becomes available.
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