U.S. intergovernmental agreement signed with Switzerland, initialed with Italy
On 14 February 2013 the Treasury Department announced that representatives of the United States and Switzerland have signed a bilateral intergovernmental agreement to facilitate information reporting and withholding tax provisions between the two countries under the Foreign Account Tax Compliance Act (FATCA) regime. Treasury reports that today’s United States-Switzerland agreement (PDF, 477 KB) is the first based on the Model II intergovernmental agreement (November 2012). Switzerland is one of eight countries that have signed or initialed an intergovernmental agreement (IGA) aimed at facilitating effective and efficient implementation of FATCA.
Additionally, Treasury also reported that the United States initialed an IGA with Italy on 24 January 2013, and that Treasury is engaged with more than 50 countries and jurisdictions in an effort to sign more agreements in the near future.
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