The US has signed an intergovernmental agreement with France to implement the Foreign Account Tax Compliance Act (FATCA).

The US has signed an intergovernmental agreement with France to implement the Foreign Account Tax Compliance Act (FATCA). 

The agreement was signed last week by US Ambassador to France Charles Rivkin and French Finance Minister Pierre Moscovici.

"France has been an enthusiastic supporter of our effort to promote global tax transparency and critical to drafting a model of FATCA implementation," said deputy assistant secretary for international tax affairs Robert Stack in a statement from the US Department of the Treasury. 

As previously reported, the signing of the US-France pact was delayed by the US government shutdown last month.

FATCA was implemented in 2010 by the US government to crack down on expat citizens who might be evading taxes by using foreign accounts. Switzerland confirmed earlier this month that the implementation date for FATCA has been pushed back to July 1, 2014, rather than January 1, 2014 (view here). With the latest signing, ten FATCA IGAs have now been signed.