U.S.A.: FATCA: U.S.A. and Hong Kong sign Model II Intergovernmental Agreement

On 13 November 2014, Hong Kong (previously on the list of agreements “in substance”) and the U.S.A. signed an Intergovernmental Agreement (IGA) under Model II to improve international tax compliance with respect to the U.S. Foreign Account Tax Compliance Act (FATCA).

This is the sixth FATCA bilateral agreement Model II to be published so far.

Model II IGAs have previously been signed between the U.S.A. and, individually, Austria, Bermuda, Chile, Japan and Switzerland.

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

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