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Australia's Assistant Treasurer, Chris Bowen has announced that the Tax Information Exchange Agreement (TIEA) between Australia and the Netherlands Antilles has entered into force and has effect from 1st January 2007.
“This Tax Information Exchange Agreement provides Australia with an important tool in its efforts to combat tax avoidance and evasion,” Bowen said.
The TIEA provides a legal basis for full exchange of information, for both criminal and civil tax matters, between Australia and the Netherlands Antilles.
“The conclusion of TIEAs is a significant step towards achieving widespread international cooperation on tax matters,” Bowen added.
“I commend the Netherlands Antilles for its willingness to implement higher standards of transparency and effective exchange of information. This is a key tax policy area and the leadership shown by Australia and the Netherlands Antilles will assist both jurisdictions in the enforcement of their domestic laws," he continued.
Bowen revealed that the Australian government is pursuing a comprehensive TIEA negotiation program with "other committed jurisdictions.”
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