Where is FATCA in South Africa now? | KPMG | ZA

Where is FATCA in South Africa now?

Where is FATCA in South Africa now?

The intergovernmental agreement between the governments of the Republic of South Africa and the United States of America to improve international tax compliance and to implement Foreign Accounts Tax Compliance Act (“FATCA”) (“the SA IGA”), which was signed on 9 June 2014, has now been ratified by Parliament.

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Where is FACTA?
The significance of this is that the SA IGA is now binding on the Government of South Africa as an international treaty (the date of entry into force of the SA IGA is 28 October 2014).

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