U.S.A.: FATCA : New agreements "in substance" in the Model II IGA list - V

03.12.2014

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, Macao is now included in the Model II IGA “in substance” list.

Macao should be considered as having a Model II IGA in effect until the IGA is effectively signed, provided that it continues to demonstrate firm resolve to sign the IGA.

We continue to monitor the implementation of FATCA and will provide more information as it becomes available.

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