U.S.A.: FATCA : Model I Intergovernmental Agreement signed with Italy
On 10 January 2014, the U.S.A. and Italy 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).
The text of the signed agreement has not yet been published on the U.S. Treasury website.
This is the seventeenth FACTA bilateral agreement Model I to be published so far; the previous sixteen were signed between the U.S.A. and, individually, the United Kingdom, Denmark, Mexico, Ireland, Norway, Spain, Germany, France, Costa Rica, Cayman Islands, Guernsey, Jersey, the Isle of Man, Malta, The Netherlands and Mauritius.
We continue to monitor the implementation of FATCA and will provide more information as it becomes available.
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