On 29 July 2016, the U.S. IRS announced that beginning 1 January 2017, the FATCA intergovernmental agreements (IGA) list will be updated to provide that certain jurisdictions that have not brought their IGA into force will no longer be treated as if they have an IGA in effect. The change concerns earlier notices that the 30% withholding under FATCA would not apply for payments to jurisdictions with IGAs not yet in force, provided an IGA has been signed or agreed in substance and such jurisdic…