On January 28 2014 Slovenia’s Ministry of Finance announced that Slovenia and the United States have initialed the text of a bilateral inter-governmental agreement (IGA) for the implementation of the US Foreign Account Tax Compliance Act (FATCA). The US Congress enacted FATCA in 2010 and the legislation is taking effect on July 1, 2014. Its purpose is to ensure that the US obtains information on accounts held abroad at foreign financial institutions (FFIs) by US persons. Failure by an FFI to disclose information on their US clients, including account ownership, balances and account movements, will result in a requirement to withhold 30 percent tax on payments of US-sourced income. Further discussion is required by the Slovenian parliament before the final agreement is signed.
Jersey ratifies TIEA with Slovenia
»
Related Posts
Andorra, Slovenia negotiates tax treaty
Representatives from Andorra and Slovenia convened to outline a roadmap for bilateral cooperation, which includes negotiating an income tax treaty. The announcement was made by Andorran government officials on 9 September 2024. A tax treaty is a
Read MoreAustralia, Slovenia sign tax treaty
The Australian government announced on 9 September 2024 that it signed a new tax treaty with Slovenia. The tax treaty treaty is the first between the two countries and marks a significant milestone in the bilateral relationship. Once in force,
Read MoreSwitzerland ratifies tax treaty protocol with Slovenia
Switzerland has announced its decision to ratify the pending protocol to the 1996 income and capital tax treaty with Slovenia, published in the Official Gazette on 25 June, 2024. Signed on 30 May 2023, this protocol marks the second amendment to
Read MoreSlovenia proposes amendments to Income Tax Act
Slovenia's Ministry of Finance announced the Draft Bill on Amendments to the Income Tax Act on 6 June, 2024. The main measures of the bill include a special tax allowance which has been introduced for new resident workers, which offers a
Read MoreSlovenia proposes amendments to Corporate Income Tax Act
Slovenia's Ministry of Finance announced the Draft Bill on Amendments to the Corporate Income Tax Act on 6 June, 2024. The bill simplifies the interest deduction limitation rules by eliminating the existing thin capitalisation rule while
Read MoreSwitzerland ratifies tax treaty with Slovenia
The Swiss Council of States, the upper house of parliament, approved the ratification of the 1996 income and capital tax treaty with Slovenia on 30 May, 2024. The protocol implements the minimum standards for double taxation agreements. Signed
Read More