Parliament of Georgia ratified Agreement concluded by and between the United States of America and Georgia for the execution of a Foreign Account Tax Compliance Act (FATCA) on September 18, 2015. The Agreement was signed in July 2015.

Georgia thus joined a list of countries that will provide financial information to the partner country (USA) for the prevention of tax avoidance cases by US citizens.

For a better coordination of obligations assumed under the FATCA Agreement, Georgian Revenue Service (GRS) of the Ministry of Finance of Georgia will liaise between the financial institutions of the country and US Internal Revenue Service (IRS).

Information on the countries that signed the FATCA Agreement with US authorities is available at the following link:

http://www.treasury.gov/resource-center/tax-policy/treaties/Pages/FATCA-Archive.aspx

Additional information on FATCA may be accessed at the following link:

http://mof.ge/4887