A Model 1 Intergovernmental agreement (IGA) is treated as 'in effect' by the United States (US) Treasury as of 1 May 2014. The US and Peruvian governments have reached an agreement in substance, and Peru has consented to disclose this status. In accordance with this status, the text of such IGA has not been released, and financial institutions in Peru are allowed to register on the FATCA registration website consistent with the treatment of having an IGA in effect, provided that the jurisdiction continues to demonstrate firm resolve to sign the IGA as soon as possible.
Victor Shinguiyama, the national Superintendent of the Peruvian tributary administration, pointed out that Peru will initiate the exchange of financial and tributary information with more than 100 countries from 2020.
Last Reviewed - 31 July 2019