Ireland Concludes TIEA With Gibraltar

by Amanda Banks, Tax-News.com, London

01 July 2009

The Irish Minister of State at the Department of Finance, Martin Mansergh, on June 24 signed a Tax Information Exchange Agreement with Gibraltar, the Irish government has announced.

“Ireland is very pleased to be able to sign this Tax Information Exchange Agreement with Gibraltar. The signing of this TIEA is concrete evidence of the significant progress that has been made in recent months,” Mansergh commented.

“This Agreement will allow the Revenue Commissioners to request information which is relevant to an Irish tax investigation directly from the authorities in Gibraltar. Information that would typically be relevant is bank account information and beneficial ownership information for companies and other entities established in Gibraltar.”

“Ireland welcomes the commitment of Gibraltar to implement the OECD standards of transparency and exchange of information in tax matters and their willingness to enter into tax information exchange agreements. The signing of this Agreement represents a significant development in relations between Ireland and Gibraltar,” concluded Mansergh.

The agreement is Ireland’s fifth TIEA, having recently concluded texts with the Isle of Man, Jersey, Guernsey and the Cayman Islands. The agreement with Ireland marks Gibraltar’s second, having previously signed an agreement to provide tax information to the United States in April.

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