FATCA AND THE US – DUTCH INTERGOVERNMENTAL AGREEMENT
Dutch IGA published
In connection with the Foreign Account Tax Compliance Act (“FATCA”), the government of the Netherlands entered into a Model 1 Intergovernmental Agreement (“IGA”) with the United States (click here). Under the Dutch IGA, Netherlands financial institutions would report required information to the Netherlands tax authorities, followed by an automatic exchange of the reported information to the IRS.
The Dutch IGA, entered into on December 18, 2013, is substantially similar to the Model 1A IGA that includes a reciprocal approach for the sharing of information between the two governments. Article 3 paragraph 7 of the …
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