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France and U.S. Sign FATCA IGA; Agreements Furthering U.S. Tax Transparency Initiatives Now at Double-Digits

A significant part of the global tax reform discussion has centered on global tax transparency and increased information sharing and the intergovernmental agreement (“IGA”) signed between the U.S. and France to implement the Foreign Account Tax Compliance Act (“FATCA”) furthers the tax transparency agenda.   The IGA with France marks the tenth IGA signed to date. Generally,...

Tides of Change: Cayman Islands Announces Completion of FATCA Accord with the United States

On August 13, the Cayman Islands announced the conclusion of negotiations with the United States on an intergovernmental agreement (IGA) to implement the U.S. Foreign Account Tax Compliance Act (FATCA) and a new tax information exchange agreement (TIEA).  According to media reports, the countries will adopt a Model 1B nonreciprocal FATCA IGA, which will require the Cayman Islands...

FATCA as a Global Model

When the Foreign Account Tax Compliance Act (FATCA) was enacted in 2010, there was some question as to how it would be received internationally and whether tax compliance and information reporting initiatives would gain traction globally.  Although the operative provisions of FATCA are not yet in effect, the law has had significant international influence in shaping global tax...

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