U.S.A.: FATCA: U.S.A. and the Bahamas sign Model I Intergovernmental Agreement
On 3 November 2014, the Bahamas (previously on the list of agreements “in substance”) and the U.S.A. signed an Intergovernmental Agreement (IGA) under Model I to improve international tax compliance with respect to the U.S. Foreign Account Tax Compliance Act (FATCA).
This is the fortieth FATCA bilateral agreement Model I to be published so far.
Model I IGAs have previously been signed between the U.S.A. and, individually, the United Kingdom, Denmark, Mexico, Ireland, Norway, Spain, Germany, France, Costa Rica, the Cayman Islands, Guernsey, Jersey, the Isle of Man, Italy, Mauritius, the Netherlands, Malta, Hungary, Canada, Finland, Luxembourg, Honduras, Estonia, Belgium, Australia, Jamaica, Gibraltar, Liechtenstein, Slovenia, South Africa, New Zealand, Latvia, the British Virgin Islands, Israel, the Czech Republic, Sweden, Lithuania, Mexico and Poland.
We continue to monitor the implementation of FATCA and will provide more information as it becomes available.
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