Bringing you live news and features since 2006 


Luxembourg and the US sign Model 1 IGA


The US and Luxembourg governments have signed an agreement to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA).

On 27 February 2014, the Luxembourg and US negotiating teams agreed on the substance of the Model 1 Agreement.
ALFI – the Association of the Luxembourg Fund Industry – has welcomed the signature of this intergovernmental agreement (IGA).
The association has been working hard to ensure that its members are best prepared for the implementation of FATCA. A Q&A document is being finalised by ALFI's FATCA implementation working group. The working group comprises representatives of asset managers, management companies, securities service providers, audit firms, law firms, the Luxembourg Pension Funds Association and information management firms. The Q&A document will serve ALFI members as a reference document when it comes to implementing FATCA.
As part of the signing of the FATCA Model 1 intergovernmental agreement between Luxembourg and the US, the Luxembourg Tax Administration has set up two working groups bringing together different actors from the public and private sectors in order to implement the automatic exchange of information under this agreement.
The first working group focuses on general issues relating to the implementation of the agreement, while the second will deal mainly with technical questions regarding the electronic communication of information between reporting financial institutions and the Tax Administration.

Latest News

Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..
Calastone has published an ETF white paper which examines several of the processes that take place across the lifecycle of..
Adapting product lines to fit into changing methodologies and meet shifting demand is essential to remaining relevant in the industry..

Related Articles

US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Lorraine Sereyjol-Garros, BNP Paribas
Following changes to the French Monetary and Financial Code and of the French market authority AMF’s General Regulation, it is...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by