U.S.A.: FATCA: U.S.A. and the Republic of Turkey sign Model I Intergovernmental Agreement

On 29 July 2015, the Republic of Turkey (previously on the list of agreements “in substance”) signed with the U.S.A. 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 sixty-second 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, Iceland, Romania, the Holy See, South Korea, United Arab Emirates, India, Georgia and The Philippines.

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