The U.S. Department of the Treasury on its webpage that is dedicated to FATCA has published the FATCA Agreement between the Government of the United States and the Government of the Socialist Republic of Viet Nam.

According to the information provided on the website of the U.S. Department of the Treasury, the agreement concluded is a so-called Model 1 IGA. From the information available on the website of the U.S. Department of Treasury we understand that the IGA was already signed on April 1, 2016.

 

It should be noted that although the IGA has been signed, according to the website of the U.S. Department of the Treasury Vietnam is not (yet) treated as a jurisdiction having an IGA in effect. In this respect on the website of the U.S. Department of the Treasury the following is noted with respect to the U.S.-Vietnam IGA: “Not treated as in effect.  See Treas. Reg. §1.1471-1(b)(78).  Financial institutions cannot be treated as covered by a Model 1 IGA (including for withholding or registration purposes) until the IGA has entered into force.”

 

Click here to be forwarded to the text of the Agreement between the Government of the United States of America and the Government of the Socialist Republic of Viet Nam to Improve International Tax Compliance and to Implement FATCA as published on the website of the U.S. Department of the Treasury, which will open in a new window.

 

Interested in quickly finding more FATCA related documents? Then click here!

 

 

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