The Minister of Revenue announced on 25 October 2012 that the Government will look to enter into an intergovernmental agreement with the US Government on FATCA requirements.   An intergovernmental agreement is intended to ease the administrative burden of FATCA compliance for non-US entities by enabling those entities to report to their own revenue authority rather than having to report directly to the IRS.  A copy of the media release is available here.  The US Department of Treasury has recently announced that it is engaged with more than 50 countries and jurisdictions around the world for the purposes of negotiating a bilateral agreement to address FATCA obligations.