First Friday FATCA Update

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November 3, 2017

Since our last monthly FATCA update, no new intergovernmental agreements (IGA) or competent authority agreements (CAA) have been released.  The Treasury Department website publishes IGAs, and the IRS publishes their implementing CAAs.

On October 24, 2017, the United States and Singapore released a joint statement following the meeting between President Donald Trump and Prime Minister Lee Hsien Loong the previous day.  The statement indicated that the two countries have substantially completed negotiations on a Tax Information Exchange Agreement and a reciprocal Model 1A IGA.  The countries plan to sign the agreements before the end of the year.