Global

Details

  • Service: Tax, Global Indirect Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 2/5/2014

UAE - FATCA agreement pending signature 

February 5: Reports from the United Arab Emirates reveal that in late January 2014, representatives of the United States and the UAE were preparing to sign an intergovernmental agreement (IGA) to implement provisions under U.S. law known as “FATCA” (Foreign Account Tax Compliance Act).

It is reported that the FATCA intergovernmental agreement (IGA) to be signed is the IGA Model 1.


Read a January 2014 report prepared by KPMG LLP: MESA Tax Update – January 2014: United Arab Emirates - US FATCA and other news


The KPMG report also discusses the following topics:


  • UAE participation in the OECD’s tax transparency forum
  • Increased property transfer fees in Dubai



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