Friday, July 4, 2014

Cambodia to implement US Foreign Account Tax Compliance Act


4 July 2014
 
Cambodia has agreed to be included on a list of jurisdictions treated as if they have an inter-governmental agreement in effect on the US Foreign Account Tax Compliance Act.

In a client alert, Sciaroni & Associates said Cambodia advised the United States on Monday that it would take steps to sign an agreement on improving international tax compliance and implementing the act by the end of December. "Cambodia is intending to proceed with Model 1B agreement, including its Annexes." The list of jurisdictions is maintained by the US Department of the Treasury and the US Internal Revenue Service.

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