U.S.A.: FATCA : U.S.A. and British Virgin Islands sign Model I Intergovernmental Agreement

On 30 June 2014, the British Virgin Islands (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 thirty-third bilateral agreement Model I to be published so far.

Model I IGAs have previous been signed between the U.S.A. and, individually, The United Kingdom, Denmark, Mexico, Ireland, Norway, Spain, Germany, France, Costa Rica, 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 and Latvia.

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

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