It was announced by the German Ministry of Finance that a law enabling the implementation of the United States’ Foreign Account Tax Compliance Act (FATCA) has come into force on July 23, 2014.
The agreement is a type 1A Inter-Governmental agreement under which German financial institutions report relevant data to their Government, which then exchanges it reciprocally with the USA.
Related Posts
The US Department of the Treasury announced on 17 December 2024 that the United States has provided formal notice to the Republic of Belarus to confirm the suspension of the operation of paragraph 1, subparagraph (g), of Article III of the
Read More
Switzerland's Council of States approved protocols amending income and capital tax treaties with Germany and Serbia on 9 December 2024. Earlier, the Swiss Federal Council announced that it had adopted the dispatch on the protocol of amendment to
Read More The US Treasury Department and the Internal Revenue Service (IRS) released Notice 2025-04, “Application of the Simplified and Streamlined Approach under Section 482”, on 18 December 2024, clarifying the US government’s stance on using the
Read More
The German Ministry of Finance (MoF)Â released the final decree on the application of Germany's anti-hybrid rules on 5 December 2024, providing clarifications over the draft version published in 2023. The decree addresses how foreign controlled
Read More
The US President Biden has signed The Federal Disaster Tax Relief Act of 2023 (H.R. 5863) and the VSO Equal Tax Treatment Act VETT Act (H.R. 1432) on 12 December 2024. These two bills provide significant tax relief measures to support disaster
Read More
The German Ministry of Finance published BMF Letter No. 2024/1078709 on 12 December 2024, updating the guide on transfer pricing for 2024. The new guidelines clarify key aspects of transfer pricing which includes income correction and
Read More
