Luxembourg’s Finance Minister Luc Frieden has announced plans to begin negotiations shortly on an inter-governmental agreement between Luxembourg and the United States, implementing the Foreign Account Tax Compliance Act (FATCA).

The US FATCA legislation was enacted in March 2010 as part of efforts to strengthen the US tax administration’s capacity to combat cross-border tax evasion by US citizens with accounts held abroad.

Source: http://tax-news.com/news/Luxembourg_US_To_Conclude_FATCA_In_2013____58849.html