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The United Kingdom has signed a Tax Information Exchange Agreement (TIEA) with Gibraltar, which will help to ensure that those liable to tax in the UK pay the right tax on investments in Gibraltar and on supplies of goods and services into and out of the UK. The TIEA was signed by the Financial Services Secretary to the Treasury, Lord Myners, and the Chief Minister of Gibraltar, Peter Caruana QC. Welcoming the signatures, the Financial Secretary to the Treasury, the Rt Hon Stephen Timms MP, said: “I am very grateful to the Government of Gibraltar for their constructive approach to this agreement and I welcome the fact that Gibraltar has now joined the rapidly growing number of jurisdictions making good on their commitments to apply high standards of transparency and exchange of information in tax matters. “Today’s agreement is in line with the OECD’s standards of transparency and the implementation of these standards is very much in the interests of all those taxpayers who comply with the spirit and letter of the law.” The text of the TIEA can be accessed on the internet at: www.hmrc.gov.uk/international/gibraltar-eol.pdf
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About The Author  Sarah Laing Sarah is a Chartered Tax Adviser. She has been writing professionally since joining CCH Editions in 1998 as a Senior Technical Editor, contributing to a range of highly regarded publications including the British Tax Reporter, Taxes - The Weekly Tax News, the Red & Green legislation volumes, Hardman's, International Tax Agreements and many others. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars (including ABG Courses and Conferences). Sarah originally worked for the Inland Revenue in Newbury and Swindon Tax Offices, before moving out into practice in 1991. She has worked for both small and Big 5 firms. She now works as a freelance author providing technical writing services for the tax and accountancy profession. |
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Article Added Monday, 31 August 2009 | 1351 Hits |
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