Ukraine and the United States signed an intergovernmental agreement on FATCA

Intergovernmental agreement to improve implementation of tax rules and application of the provisions of the US law «On tax requirements for foreign accounts» (FATCA — Foreign Account Tax Compliance Act) was signed on Tuesday 7 February in Kiev, the Minister of Finance of Ukraine Alexander danyluk and US Ambassador to Ukraine, Marie Yovanovitch.

«This agreement allows us to reduce opportunities for financial fraud, tax evasion, to promote a better exchange of information between Ukraine and the United States, exchange experience and strengthen our cooperation with the United States,» said danyluk after the signing, reports «Interfax-Ukraine».

Ivanovic explained that under the agreement the U.S. at the state level will receive from the Ukrainian side information about the administration of the revenues and taxes of American citizens and the companies in which they own shares.

«Our bilateral cooperation in the sphere of administration of the income and taxes is a two-way traffic», — said the Ambassador, noting that the United States is also prepared to share the necessary data with the Ukrainian authorities.

Danyluk said that FATCA has already signed about 60 countries now join the EU.

The Minister also stressed that the government’s priority is strengthening of cooperation with international partners in the fight against tax evasion and avoid double taxation. In particular, February 8 in the Parliament expected to ratify a similar agreement with Luxembourg.

Jovanovic has said that the United States will continue to support the efforts of the Ukrainian government to improve the transparency of revenue administration and tax.

According to her, currently in Ukraine, according to various American programs of technical assistance to work any more financial advisers than any other country in the world.

Recall that in October 2013 the Ukrainian government decided to enter into negotiations with the United States on signing the intergovernmental agreement to coordinate actions in connection with the forthcoming entry into force of the law «About tax requirements for foreign accounts.»

Ukraine and the United States signed an intergovernmental agreement on FATCA 07.02.2017

Февраль 7th, 2017 by
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