U.S.A.: United States and Bermuda sign Model II Intergovernmental Agreement

On 19 December 2013, the U.S.A. and Bermuda signed an intergovernmental agreement (IGA) on the basis of a Model II template, in order to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA). Text of the signed agreement has not yet been published on the US Treasury website.

This is the third FATCA bilateral agreement Model II to be published so far; the previous two were signed between the U.S.A. and, individually, Japan and Switzerland.

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

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