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Canada Signs TIEAs

by Mike Godfrey,, Washington

19 November 2010

The Canadian goverment has announced the signing of two tax information exchange agreements (TIEAs), with San Marino and with Anguilla, bringing the total number of such agreements signed by Canada to 11 over the last 14 months.

The government also said it is expecting to sign more TIEAs in coming months, and is currently engaged in numerous negotiations.

The agreement with San Marino was signed on October 27, 2010, and the agreement with Anguilla, under Entrustment from the British government was signed on October 28, 2010.

These TIEAs create the legal framework to enable the exchange between tax authorities of tax information relevant for the administration and enforcement of the domestic tax laws of Canada and respectively, of San Marino and Anguilla.

Welcoming the agreements in a statement on November 17, the Canadian Minister for Finance, Jim Flaherty, said: “These agreements will help Canadian tax authorities combat international tax evasion. The signature of 11 TIEAs so far demonstrates Canada’s unwavering resolve to uphold its international commitment to the implementation of the Organisation for Economic Cooperation and Development standard for the exchange of tax information.”

Canada has now signed TIEAs with Anguilla, Bahamas, Bermuda, the Cayman Islands, Dominica, the Netherlands Antilles, Saint Lucia, San Marino, St. Kitts and Nevis, St. Vincent and the Grenadines, and the Turks and Caicos Islands.

TAGS: tax | tax information exchange agreement (TIEA) | agreements | Anguilla | Canada | San Marino

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