The Minister for Revenue and Assistant Treasurer, Peter Dutton, has announced the signing of a Tax Information Exchange Agreement (TIEA) between Australia and the Netherlands Antilles.
The agreement was signed last week at Australia's Parliament House by Dutton and Alex Rosaria, the Netherlands Antilles State Secretary of Finance.
The agreement provides for full exchange of information on criminal and civil tax matters between Australia and the Netherlands Antilles. The agreement aims to improve transparency and establish effective information exchange for tax purposes, and provides important momentum towards achieving the aims of the OECD’s Harmful Tax Practices Initiative and the related Global Forum on Taxation.
TIEAs are also an essential tool in Australia’s efforts to combat offshore tax evasion, supporting government initiatives such as Operation Wickenby, a multi-agency taskforce investigating internationally promoted tax arrangements allegedly involving tax avoidance or evasion, and in some cases large-scale money-laundering.
Dutton praised the Netherlands Antilles for their commitment to the OECD regarding issues of transparency and exchange of information. The Netherlands Antilles also signed a TIEA with New Zealand during the same ceremony.The Netherlands Antilles has a significant offshore financial centre, and Dutton observed that this signing will help progress Australia’s broader TIEA negotiation programme with other similar jurisdictions.
Australia has a comprehensive TIEA negotiation programme. This agreement is the third such arrangement entered into by Australia, which recently signed its second TIEA with Antigua and Barbuda in January 2007.
A comprehensive report in our Intelligence Report series examining offshore confidentiality 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_report1.aspTags: Curaçao
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