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Bloomberg BNA is reporting that Israel has signed a FATCA
IGA. The agreement is a Model 1 agreement, meaning that
Israeli financial institutions will will report information about
U.S. customers' accounts to the Israeli tax authorities,
who will then send that information to the IRS. The news comes only
a day after the indictment of a former senior vice president of an
Israeli bank, widely believed to be Bank Mizrahi, for conspiring to
conceal the existence of undeclared accounts owned and controlled
by U.S. customers in Israel.
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