Netherlands and United States sign intergovernmental FATCA agreement

On December 18, 2013, the Dutch State Secretary for Finance and the U.S. Chargé d’Affaires ad interim signed the Netherlands-US Intergovernmental Agreement (‘IGA’) under FATCA. The purpose of the agreement is to enable Dutch qualifying financial institutions to become FATCA compliant without having to conclude their own individual agreement with the US Internal Revenue Service (“IRS”). The headlines are summarized in the attached Tax News Bulletin.