The Government of the United States of America and the
Government of the Republic of Cyprus have concluded an agreement
aimed at improving tax compliance through mutual assistance in tax
matters based on an effective infrastructure for the exchange of
information.
On 20 April 2016, the Cyprus Ministry of Finance released the
official text of the competent authority arrangement (CAA) that the
United States and Cyprus have signed in accordance with the
US-Cyprus intergovernmental agreement (IGA) for implementation of
the Foreign Account Tax Compliance Act (FATCA).
Under the US-Cyprus intergovernmental agreement (IGA) that has
been concluded, the competent authorities of Cyprus and the United
States have entered into a mutual agreement procedure provided by
the convention. The agreement has been concluded in order to
establish that the procedures related to automatic exchange of
information regarding reportable accounts and that annual
obligations for reporting will
