Germany may ditch Fatca if reciprocity agreement not honoured, experts warn

map of germany

Germany will not meet its Foreign Account Tax Compliance Act (Fatca) obligations if the US reneges on an intergovernmental agreement with the country, an observer of the US legislation warns.

The US Internal Revenue Service has today released details of how five intergovernmental arrangements – agreed in February – are anticipated to work. The agreements are between the US and five European Union (EU) countries: France, Germany, Italy, Spain and the UK. Among other things, they outline how

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