U.S.A.: FATCA: U.S.A. and Romania sign Model I Intergovernmental Agreement

29.05.2015

On 28 May 2015, Romania (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 fifty-fifth 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, Poland, the Bahamas, Barbados, the Turks and Caicos Islands, Cyprus, Bulgaria, Singapore, Curacao, Qatar, Kosovo, Belarus, Croatia, Uzbekistan, Kuwait, Colombia and Iceland.

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

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