Today, August 6th, in Lisbon, the United States of America and the Portuguese Republic signed the Agreement to reinforce tax compliance and implement the Foreign Account Tax Compliance Act (FATCA). The Agreement was signed by U.S. Ambassador to Portugal Robert Sherman and Portuguese State Secretary for Fiscal Affairs Paulo Núncio.
The signing of the Agreement advances the shared objective of enforcing our respective tax laws and preventing and combating tax fraud and evasion, on a reciprocal basis.
This Agreement provides for the exchange of foreign financial account information between the United States and Portugal, ensuring appropriate citizen data protection, in accordance with international best practices.