On July 12, 2013, the Internal Revenue Service (the "IRS") released an advance copy of Notice 2013-43 (the "Notice"), which extends the timeline for the implementation of withholding, registration and due diligence obligations under the Foreign Account Tax Compliance Act ("FATCA"). The US Department of the Treasury (the "Treasury") is currently engaged in discussions with more than 80 countries regarding the implementation of intergovernmental agreements (such an agreement, an "IGA"), and the purpose of the Notice is to allow sufficient time for the implementation of those IGAs.
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