International Financial Law Prof Blog

Editor: William Byrnes
Texas A&M University
School of Law

A Member of the Law Professor Blogs Network

Friday, January 9, 2015

112 Intergovernmental Agreements and counting .... only 132 countries left out in the FATCA cold

By William Byrnes

As Haydon Perryman pointed out, Qatar's IGA of January 7th has been published by Treasury, bringing the IGA signed and in substance count to 112 as per the below.  That's still less than half the potential IGA partners.  Not every little Island jurisdiction requires an IGA, even if it has FFI registrations, such as Bouvett Island, St. Pierre or Solomon Islands.

IGAs = 112 (of a potential 244 recognized foreign jurisdictions with FATCA numbers, or 245 including Kosovo that does not have an ISO number).  So Chapter 4 FATCA withholding of 30% is now being applied to these 123 countries, and to applicable FFIs in IGA countries that have refused to register and obtain a GIIN to complete a W-8BEN-E.

Take a look at Haydon Perryman's excellent 2015 FATCA youtube video. 

Model 1 IGAs = 98

Model 2 IGAs = 14

 

47 Model 1 IGAs 

  1. Australia (4-28-2014)
  2. Bahamas (11-3-2014)
  3. Barbados (11-17-2014)
  4. Belgium (4-23-2014)
  5. Brazil (9-23-2014)
  6. British Virgin Islands (6-30-2014)
  7. Bulgaria (12-5-2014)
  8. Canada (2-5-2014)
  9. Cayman Islands (11-29-2013)
  10. Costa Rica (11-26-2013)
  11. Curaçao (12-16-2014)
  12. Cyprus (12-2-2014)
  13. Czech Republic (8-4-2014)
  14. Denmark (11-19-2012)
  15. Estonia (4-11-2014)
  16. Finland (3-5-2014)
  17. France (11-14-2013)
  18. Germany (5-31-2013)
  19. Gibraltar (5-8-2014)
  20. Guernsey (12-13-2013)
  21. Hungary (2-4-2014)
  22. Honduras (3-31-2014)
  23. Ireland (1-23-2013)
  24. Isle of Man (12-13-2013)
  25. Israel (6-30-2014)
  26. Italy (1-10-2014)
  27. Jamaica (5-1-2014)
  28. Jersey (12-13-2013)
  29. Latvia (6-27-2014)
  30. Liechtenstein (5-19-2014) 
  31. Lithuania (8-26-2014)
  32. Luxembourg (3-28-2014)
  33. Malta (12-16-2013)
  34. Mauritius (12-27-2013)
  35. Mexico (4-9-2014)
  36. Netherlands (12-18-2013)
  37. New Zealand (6-12-2014)
  38. Norway (4-15-2013)
  39. Poland (10-7-2014)
  40. Qatar (1-7-2015)
  41. Singapore (12-9-2014)
  42. South Africa (6-9-2014)
  43. Spain (5-14-2013)
  44. Slovenia (6-2-2014)
  45. Sweden (8-8-2014)
  46. United Kingdom (9-12-2012)
  47. Turks and Caicos Islands (12-1-2014)

7 Model 2 IGAs 

  1. Austria (4-29-2014)
  2. Bermuda (12-19-2013)
  3. Chile (3-5-2014)
  4. Hong Kong (11-13-2014)
  5. Japan (6-11-2013)
  6. Moldova (11-26-2014)
  7. Switzerland (2-14-2013)

Jurisdictions that have reached agreements in substance as of June 30, 2014 and have consented to being included on this list (beginning on the date indicated in parenthesis):

51 Model 1 IGAs 

  1. Algeria (6-30-2014)
  2. Angola (11-30-2014)
  3. Anguilla (6-30-2014)
  4. Antigua and Barbuda (6-3-2014)
  5. Azerbaijan (5-16-2014)
  6. Bahrain (6-30-2014)
  7. Belarus (6-6-2014)
  8. Cabo Verde (6-30-2014)
  9. Cambodia (11-30-2014)
  10. China (6-26-2014)
  11. Colombia (4-23-2014)
  12. Croatia (4-2-2014)
  13. Dominica (6-19-2014)
  14. Dominican Republic (6-30-2014)
  15. Georgia (6-12-201)
  16. Greece (11-30-2014)
  17. Greenland (6-29-2014)
  18. Grenada (6-16-2014)
  19. Guyana (6-24-2014)
  20. Haiti (6-30-2014)
  21. Holy See (11-30-2014)
  22. Iceland (11-30-2014)
  23. India (4-11-2014)
  24. Indonesia (5-4-2014)
  25. Kazakhstan (11-30-2014)
  26. Kosovo (4-2-2014)
  27. Kuwait (5-1-2014)
  28. Malaysia (6-30-2014)
  29. Montenegro (6-30-2014)
  30. Montserrat (11-30-2014)
  31. Panama (5-1-2014)
  32. Peru (5-1-2014)
  33. Philippines (11-30-2014)
  34. Portugal (4-2-2014)
  35. Romania (4-2-2014)
  36. St. Kitts and Nevis (6-4-2014)
  37. St. Lucia (6-12-2014)
  38. St. Vincent and the Grenadines (6-2-2014)
  39. Saudi Arabia (6-24-2014)
  40. Serbia (6-30-2014)
  41. Seychelles (5-28-2014)
  42. Slovak Republic (4-11-2014)
  43. South Korea (4-2-2014)
  44. Thailand (6-24-2014)
  45. Trinidad and Tobago (11-30-2014)
  46. Tunisia (11-30-2014)
  47. Turkey (6-3-2014)
  48. Turkmenistan (6-3-2014)
  49. Ukraine (6-26-2014)
  50. United Arab Emirates (5-21-2014)
  51. Uzbekistan (6-30-2014) 

7 Model 2 IGAs

  1. Armenia (5-8-2014)
  2. Iraq (6-30-2014)
  3. Macao (11-30-2014)
  4. Nicaragua (6-30-2014)
  5. Paraguay (6-6-2014)
  6. San Marino (6-30-2014)
  7. Taiwan (6-23-2014)*

Lexis Guide to FATCA Compliance – 2015 Edition Out Soon

1,200 pages of analysis of the compliance challenges, over 54 chapters by 70 FATCA contributing experts from over 30 countries.  Besides in-depth, practical analysis, the 2015 edition includes examples, charts, time lines, links to source documents, and compliance analysis pursuant to the IGA and local regulations for many U.S. trading partners and financial centers.   The Lexis Guide to FATCA Compliance, designed from interviews with over 100 financial institutions and professional firms, is a primary reference source for financial institutions and service providers, advisors and government departments.  No filler of forms and regs – it’s all beef !  

free download of 2014 Edition chapter at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2457671

 

https://lawprofessors.typepad.com/intfinlaw/2015/01/112-intergovernmental-agreements-and-counting-only-123-countries-left-out-in-the-fatca-cold.html

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