In the ever tightening world of tax evasion an agreement has been signed by the Portugal’s Secretary of State for Fiscal Affairs, Paul Núncio (pictured), and the US ambassador in Lisbon, Robert Sherman.
The document governs the exchange of information between the two countries regarding accounts in all financial institutions in both countries.
The conclusion of the work to strengthen tax compliance and to implement the Foreign Account Tax Compliance Act "will contribute to the shared objective of ensuring compliance with the respective taxation laws and will prevent and combat fraud and tax evasion on a reciprocal basis," according to today’s statement, which added that the new agreement "guarantees adequate protection of citizens’data" without making clear what this entailed.
