GEORGIA SIGNS FATCA



Intergovernmental Agreement was signed by and between Georgia and USA on July 10, 2015. As a result, Georgia joined a list of countries, which provides financial information to its partner country – USA for the deterrence of facts of tax evasion by its citizens.

Document was signed by H.E. Nodar Khaduri, Minister of Finance of Georgia and H.E. Richard Norland, Extraordinary and Plenipotentiary Ambassador of US to Georgia.

Foreign Account Tax Compliance Act (FATCA) adopted by USA obliges foreign financial institutions to share information with US Internal Revenue Service (IRS) on resident individuals and corporations that keep bank accounts at such institutions.

Minister of Finance of Georgia expressed his heartfelt gratitude to the US Ambassador for his support demonstrated during his 3-year term served in Georgia and wished him great success in future endeavors.

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