FATCA - IGA signed with Slovenia, and reached “in substance” with Seychelles and Turkey 

June 3:  The U.S. Treasury Department today updated its FATCA* webpage to include text of a recently signed intergovernmental agreement (IGA) between the United States and Slovenia. Treasury reports that the IGA with Slovenia (dated June 2, 2014) follows the Model 1 IGA.

Read text of the Model 1 IGA [PDF 384 KB] as signed between Slovenia and the United States.

Treasury also reported on its FATCA webpage:

  • Seychelles reached an “agreement in substance” for a Model 1 IGA with the United States, and consented to this status as of May 28, 2014.
  • Turkey reached an “agreement in substance” for a Model 1 IGA, and consented to this status as of June 3, 2014.

In early April 2014, the IRS and Treasury Department announced that foreign financial institutions (FFIs) located in a jurisdiction that has reached an “agreement in substance” with the United States, under the FATCA regime, will be treated as having an agreement in effect until the end of 2014. Read TaxNewsFlash-United States.

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