It has been announced that the Chief Minister of Anguilla, Hubert Hughes, and the Australian Deputy High Commissioner in London, Adam McCarthy, have signed a bilateral tax information exchange agreement (TIEA) between Australia and Anguilla.
"Anguilla is the fifteenth jurisdiction to sign such an agreement with Australia," Australia’s Assistant Treasurer, Nick Sherry, said. "This new treaty reflects the growing commitment by jurisdictions around the world to commit to the accepted international principles of greater tax transparency and the elimination harmful tax practices."
"As Chair of the Global Forum on Transparency and Exchange of Information, Australia is at the forefront of the international effort to combat harmful tax competition," he added. "The government welcomes Anguilla's constructive engagement in this area."
It had recently been confirmed that Hughes would be signing TIEAs with both Germany and Australia, which would bring Anguilla’s total number of signed TIEAs to thirteen. Anguilla has made it a priority to ensure the highest international standards for the jurisdiction's financial services sector.
The TIEA will enter into force after Anguilla and Australia have completed their relevant domestic requirements.
A comprehensive report in our Intelligence Report series, examining in depth the situation of offshore transparency and secrecy in a number of the most prominent jurisdictions, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report2.aspTags: tax | law | offshore | agreements | financial services | offshore confidentiality | tax information exchange agreement (TIEA) | Anguilla | Australia | Germany | services
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