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UK Signs TIEA With Belize

by Phillip Morton, Investors Offshore.com

31 March 2010

The UK government on March 25 announced the signing of a Tax Information Exchange Agreement (TIEA) with Belize, which will allow the sharing of information between the respective countries’ tax authorities on civil and criminal tax matters.

The agreement was signed in London by the Financial Secretary to The Treasury, Stephen Timms, and the High Commissioner for Belize in London, Kamela Palma.

Welcoming the signatures, Timms said: “Information exchange is a vital tool in ensuring that governments resource for the essential public services on which we all depend. I very much welcome the fact that Belize has joined the growing number of jurisdictions making good on their commitments to apply high standards of transparency and exchange of information in tax matters.”

“We are in active negotiations with other jurisdictions that have committed to applying the OECD standards, and expect to sign more agreements soon,” he added.

The agreement will enter into force after both governments undertake their respective domestic ratification procedures.

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

 

Tags: tax | law | offshore | investment | agreements | offshore confidentiality | tax havens | Organisation for Economic Co-operation and Development (OECD) | tax information exchange agreement (TIEA) | Belize | United Kingdom | tax avoidance | Organisation for Economic Co-operation and Development (OECD)

 






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