Saudi Arabia FATCA IGA signed with US

The US Treasury Department has today updated its FATCA website, reporting that Saudi Arabia has signed a Model 1 intergovernmental agreement (IGA) with the United States.

The United States and Saudia Arabia also signed an understanding on November 15 concerning the treatment under FATCA of securities registered in the Securities Depository Centre within the Saudi Stock Exchange (Tadawul) that are held by or through one or more other financial institutions that are not nonparticipating financial institutions.

Saudi Arabia had previously agreed in substance to a FATCA IGA and has been treated as if it had a FATCA agreement in effect as of June 30, 2014.

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