US Lands 10th Tax Data Sharing Pact With France

Law360, New York (November 14, 2013, 1:41 PM EST) -- France on Thursday became the 10th country to sign a pact with the U.S. to exchange tax information in order to combat offshore tax evasion, the U.S. Department of the Treasury said.

France signed an intergovernmental agreement to implement the U.S. Foreign Account Tax Compliance Act, which will require financial institutions in France to report tax information about U.S. account holders to the French government, which will relay that information to the Internal Revenue Service.

Under the agreement, the IRS will act in kind with respect...
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