Thailand Strengthens Tax Bonds With USA

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Thailand is the latest nation to reinforce tax treaties to expose the financial secrets of US expats to the internal Revenue Service (IRS).

The US ambassador in Bangkok Glyn Davies and Thai finance minister Apisak Tantivorawong signed the agreement that cements the pledge that Thailand’s financial institutions have to file information about accounts and investments held by US expats in the country.

US expats can have accounts holding a total of $200,000 before FATCA reporting is triggered.

The agreement also allows the Thai government to receive financial information about expats in the USA.

112 countries sign up to FATCA

So far, 112 countries have signed FATCA treaties with the USA.

Model 1 treaties allow the reciprocal exchange of tax information between a government and the IRS, while Model 2 treaties only allow a one-way flow to the IRS.

Here is the latest list of countries and their FATCA compliance status with the USA as on March 1, 2016.

If a country is not listed, no FATCA agreement is in force and financial institutions must report information about any accounts controlled by US taxpayers directly to the IRS.

FATCA – Treaties in force

JurisdictionStatusAgreement Type
AlgeriaSignedModel 1
AngolaSignedModel 1
AnguillaAgreement in SubstanceModel 1
Antigua and BarbudaAgreement in SubstanceModel 1
ArmeniaAgreement in SubstanceModel 2
AustraliaIn Force (6-30-2014)Model 1
AustriaIn Force (12-9-2014)Model 2
AzerbaijanIn Force (11-5-2015)Model 1
BahamasIn Force (9-17-2015)Model 1
BahrainAgreement in SubstanceModel 1
BarbadosIn Force (9-25-2015)Model 1
BelarusIn Force (7-29-2015)Model 1
BelgiumSignedModel 1
BermudaIn Force (8-19-2014)Model 2
BrazilIn Force (6-26-2015)Model 1
British Virgin IslandsIn Force (7-13-2015)Model 1
BulgariaIn Force (6-30-2015)Model 1
Cabo VerdeAgreement in SubstanceModel 1
CambodiaSignedModel 1
CanadaIn Force (6-27-2014)Model 1
Cayman IslandsIn Force (7-1-2014)Model 1
ChileSignedModel 2
ChinaAgreement in SubstanceModel 1
ColombiaIn Force (8-27-2015)Model 1
Costa RicaSignedModel 1
CroatiaSignedModel 1
CuraçaoSignedModel 1
CyprusIn Force (9-21-2015)Model 1
Czech RepublicIn Force (12-18-2014)Model 1
DenmarkIn Force (9-30-2015)Model 1
DominicaAgreement in SubstanceModel 1
Dominican RepublicAgreement in SubstanceModel 1
EstoniaIn Force (7-9-2014)Model 1
FinlandIn Force (2-20-2015)Model 1
FranceIn Force (10-14-2014)Model 1
GeorgiaSignedModel 1
GermanyIn Force (12-11-2013)Model 1
GibraltarIn Force (9-17-2015)Model 1
GreeceAgreement in SubstanceModel 1
GreenlandAgreement in SubstanceModel 1
GrenadaAgreement in SubstanceModel 1
GuernseyIn Force (8-26-2015)Model 1
GuyanaAgreement in SubstanceModel 1
HaitiAgreement in SubstanceModel 1
Holy SeeIn Force (6-10-2015)Model 1
HondurasIn Force (2-19-2015)Model 1
Hong KongSignedModel 2
HungaryIn Force (7-16-2014)Model 1
IcelandIn Force (9-22-2015)Model 1
IndiaIn Force (8-31-2015)Model 1
IndonesiaAgreement in SubstanceModel 1
IraqAgreement in SubstanceModel 2
IrelandIn Force (4-2-2014)Model 1
Isle of ManIn Force (8-26-2015)Model 1
IsraelSignedModel 1
ItalyIn Force (8-17-2015)Model 1
JamaicaIn Force (9-24-2015)Model 1
JapanSignedModel 2
JerseyIn Force (10-28-2015)Model 1
KazakhstanAgreement in SubstanceModel 1
KosovoIn Force (11-4-2015)Model 1
KuwaitSignedModel 1
LatviaIn Force (12-15-2014)Model 1
LiechtensteinIn Force (1-22-2015)Model 1
LithuaniaIn Force (10-7-2014)Model 1
LuxembourgIn Force (7-29-2015)Model 1
MacaoAgreement in SubstanceModel 2
MalaysiaAgreement in SubstanceModel 1
MaltaIn Force (6-26-2014)Model 1
MauritiusIn Force (8-29-2014)Model 1
MexicoIn Force (4-10-2014)Model 1
MoldovaSignedModel 2
MontenegroAgreement in SubstanceModel 1
MontserratSignedModel 1
NetherlandsIn Force (4-9-2015)Model 1
New ZealandIn Force (7-3-2014)Model 1
NicaraguaAgreement in SubstanceModel 2
NorwayIn Force (1-27-2014)Model 1
PanamaAgreement in SubstanceModel 1
ParaguayAgreement in SubstanceModel 2
PeruAgreement in SubstanceModel 1
PhilippinesSignedModel 1
PolandIn Force (7-1-2015)Model 1
PortugalSignedModel 1
QatarIn Force (6-23-2015)Model 1
RomaniaIn Force (11-3-2015)Model 1
San MarinoSignedModel 2
Saudi ArabiaAgreement in SubstanceModel 1
SerbiaAgreement in SubstanceModel 1
SeychellesAgreement in SubstanceModel 1
SingaporeIn Force (3-28-2015)Model 1
Slovak RepublicIn Force (11-9-2015)Model 1
SloveniaIn Force (7-1-2014)Model 1
South AfricaIn Force (10-28-2014)Model 1
South KoreaSignedModel 1
SpainIn Force (12-9-2013)Model 1
St. Kitts and NevisSignedModel 1
St. LuciaSignedModel 1
St. Vincent and the GrenadinesSignedModel 1
SwedenIn Force (3-1-2015)Model 1
SwitzerlandIn Force (6-2-2014)Model 2
Taiwan*Agreement in SubstanceModel 2
ThailandAgreement in SubstanceModel 1
Trinidad and TobagoAgreement in SubstanceModel 1
TunisiaAgreement in SubstanceModel 1
TurkeySignedModel 1
TurkmenistanAgreement in SubstanceModel 1
Turks and Caicos IslandsSignedModel 1
UkraineAgreement in SubstanceModel 1
United Arab EmiratesSignedModel 1
United KingdomIn Force (8-11-2014)Model 1
UzbekistanSignedModel 1

Source: IRS

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