U.S.A.: Bilateral FATCA agreement between the U.S.A. and UK signed

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A bilateral agreement has been signed between the U.S.A. and the UK in order to implement the information reporting and withholding tax provisions known as the Foreign Account Tax Compliance Act (FATCA).

The UK is the first country to sign the agreement, which is based on the first intergovernmental agreement model developed in consultation with France, Germany, Italy, Spain, and the UK. The U.S. Treasury does however expect several other governments to sign similar agreements in the near future.

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