In brief, Foreign Account Tax Compliance Act (FATCA) was adopted by US Congress on March 18th 2010 and was enforced on January 1st 2013. The Act requires US residents and other taxpayers to report information about their foreign financial accounts and in the same time claims foreign financial institutions to disclose information about such clients to the US Internal Revenue Service (IRS). The ultimate goal of FATCA is to fight against tax evasion by US taxpayers and to increase federal tax revenues.
In accordance with the recommendations of FATCA Azer Turk Bank has been registered at IRS’ e-portal.
The FATCA status of Azer Turk Bank: Financial institution providing reports in accordance with Model 1 IGA.
Global ID number (GIIN) of the Bank: 64ILK7.99999.SL.031