UK- Gibraltar Tax agreement
A new Tax Information Exchange Agreement (TIEA) between the UK and Gibraltar was recently signed by the UK’s Financial Services Secretary to the Treasury and the Chief Minister of the Government of Gibraltar.
The TIEA will allow for the exchange of information in line with the OECD’s model and international tax standards. The TIEA is 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 both governments have finalised their legislative procedures.