New tax information exchange agreements
The UK has recently agreed new tax information exchange agreements (TIEAs) with four Caribbean countries. The TIEAs were signed with Antigua and Barbuda, St Christopher and Nevis, St Lucia and St Vincent.
The new TIEAs will allow for the exchange of information in line with the OECD’s model and international tax standards.The TIEAs are drafted to allow for the exchange of information necessary to prevent fraud and to ensure that the right amount of tax is paid in each country.
The TIEA will take force once the UK and the other respective governments have finalised their legislative procedures.