Montserrat has signed agreements to exchange tax information with the United Kingdom, on December 9, and the Netherlands, on December 10. The agreements bring Montserrat closer to the 12 required tax information exchange agreements required of territories before March 2010.
The agreements, signed by Chief minister Reuben Meade, were co-signed by the Netherlands Ambassador to the UK, Pim Waldeck, and by UK Minister for the Overseas Territories, Chris Bryant.
In the case of the agreement with the UK, Bryant and Meade signed a protocol amending the double taxation agreement in place since 1946, which will now allow UK tax authorities access to information pertaining to tax investigations, and vice versa. The UK/Montserrat DTA provides relief for individuals who are tax residents of Montserrat from UK tax on pension income, dividends and royalties.
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.asp
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