FATCA: Updated "more favorable terms" under Model 1 IGA

FATCA: Updated "more favorable terms" under Model 1 IGA

The Treasury Department has posted on its FATCA webpage, an updated notification of “more favorable terms” concerning “certain alternative procedures” under the Model 1 IGA. Under terms of the IGAs (intergovernmental agreements), the United States must notify partner jurisdictions of “more favorable terms” provided to another jurisdiction under either the Model 1 or Model 2 IGA. The new “more favorable terms” notification (dated 29 September 2015) cites the IGA with Mexico as an example.

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Read the updated Treasury notification [PDF 50 KB]

 

Treasury previously provided updates of notification of “more favorable terms” concerning “certain alternative procedures” under the Model 1 IGA in July 2015 and then again in August 2015.

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