U.S.A.: FATCA : New agreements "in substance" in the Model II IGA list - IV
The U.S. Treasury Department, in its continuing drive to improve international tax compliance with respect to the U.S. Foreign Account Tax Compliance Act (FATCA), has updated the list of countries that have reached agreement in substance and consented to be included in the list of Intergovernmental Agreement (IGA) partner countries.
As a consequence, the following countries are now included in the Model II IGA “in substance” list:
- Iraq;
- Moldova;
- Nicaragua;
- San Marino.
These countries should be considered as having a Model II IGA in effect until 31 December 2014, after which, if not signed into official effect, such agreements will be deemed to have expired.
We continue to monitor the implementation of FATCA and will provide more information as it becomes available.
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