The IRS today announced that the United States has signed the first Competent Authority arrangements (CAA) with the United Kingdom and Australia—two jurisdictions with which the United States has entered into intergovernmental agreements (IGAs) to implement the FATCA regime. The CAAs with the UK and Australia are the first of this type of arrangements to be signed, and the IRS release states that the U.S. Competent Authority expects that “numerous other CAAs with additional competent authorities in IGA jurisdictions will be signed in the near future.”
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