14 May 2018

US withdraws from Iran Nuclear Deal

President Trump announced on May 8, unilateral withdrawal of the United States from the Joint Comprehensive Plan of Action (JCPOA) Iran non-proliferation agreement. In turn, the Department of the Treasury, US Office of Foreign Assets Control (OFAC) announced reinstatement of certain Iran sanctions over short 90- and 180-day timeframes. These decisions will affect both US and non-US companies, and may require immediate action to meet OFAC deadlines.

An Indirect Tax Services group Alert, attached below, provides additional details.

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Document ID: 2018-1009