On November 27, 2014, the finance ministry declared, Estonian government approved the tax information exchange bill with USA.
The Foreign Account Tax Compliance Act (FATCA) agreement is based on the U.S. FATCA, which aims to collect information about persons obliged to pay tax in the USA, to prevent tax evasion. The bill approved by the government determines the obligations and rights of taxpayers and financial institutions as same as the tasks of the Tax and Customs Board in fulfilling the agreement.
