Tax Information Exchange Agreement – Agreement between the UK and Guernsey signed

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A new Tax Information Exchange Agreement (TIEA) between the UK and Guernsey was signed in London on 20 January 2009. The agreement will enter into force as soon as both governments have completed the legislative procedures needed to give it effect.

This is the fourth comprehensive TIEA signed by the UK, the others being with Bermuda, the Isle of Man and the British Virgin Islands. The agreements allow governments to enforce their domestic tax laws by exchanging, on request, information relevant to a tax matter covered by the agreements.

Guernsey has previously signed TIEAs with the United States, the Netherlands, Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden.

The governments have also agreed to amend the provisions of the 1952 Double Taxation Treaty, principally to add provisions on the taxation of income from pensions and a mutual agreement procedure.

Further information:
Tax information exchange: Guernsey

This entry was posted on Monday, February 2nd, 2009 at 05:00 and is filed under Guernsey. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.