The United States and Qatar signed an Intergovernmental Agreement (IGA), on January 7, 2015, for implementation of the Foreign Account Tax Compliance Act (FATCA).
The agreement is based on the Non-reciprocal Model 1B Agreement (No TIEA or DTC). Under the agreement, Foreign Financial Institutions (FFIs) in Qatar will report the information required under FATCA about U.S. accounts to the Qatar Government, which in turn will report the information to the IRS. This agreement is reciprocal, meaning that the United States will also provide similar tax information to the Qatar Government regarding individuals and entities from Qatar with accounts in the United States.
The IGA will enter into force on the date of Qatar’s written notification to the United States that Qatar has completed its necessary internal procedures for entry into force of the IGA.
