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FATCA

The Foreign Account Tax Compliance Act (FATCA)


The Foreign Account Tax Compliance Act (FATCA) is an US law being adopted on March 18, 2010 and entered into force on July 01, 2014.

FATCA foresees the requirement to report by Financial Institutions the US tax payers' accounts. 

CB "Moldova Agroindbank" S.A. has been registered on the web site of US Internal Revenue Service (IRS) as "Participating Foreign Financial Institution" and obtained the Global Intermediary Identification Number – GIIN: 00HD6D.99999.SL.498. 

The Government of the Republic of Moldova signed the model 2 Intergovernmental Agreement with the USA on November 26, 2014 which provides that "Financial institutions report directly to IRS the information on accounts held by both: individuals – US taxpayers and entities substantially owned by US taxpayers". 

CB "Moldova-Agroindbank" S.A. recognizes the importance of FATCA and applies the FATCA requirements in its activity. In international tax approach, FATCA has become a global standard as respects to measures in combating tax evasion, the number of countries signing the intergovernmental agreements constantly being increasing


http://www.treasury.gov/resource-center/tax-policy/treaties/pages/fatca-archive.aspx