U.S.A.: FATCA : Model I Intergovernmental Agreement signed with France
On 14 November 2013, the U.S.A. and France signed an Intergovernmental Agreement (IGA), on the basis of a Model I template, in order to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA).
This is further to our Taxflash LT13081, dated 14 October 2013, announcing the postponement of the signing of such IGA.
The text of the signed agreement has been published on the website of the U.S. Treasury.
This is the eighth FATCA bilateral Model I agreement to be published so far; the previous seven were signed between the U.S.A. and, individually, the United Kingdom, Denmark, Mexico, Ireland, Norway, Spain and Germany.
We continue to monitor the implementation of FATCA and will provide more information as it becomes available.
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