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Italy, Gibraltar Sign TIEA

by Ulrika Lomas,, Brussels

09 October 2012

The government of Gibraltar has announced the signing, on October 2, 2012, with Italy, of the territory's 20th tax information exchange agreement (TIEA).

Gibraltar’s Minister for Financial Services, Gilbert Licudi, signed the agreement at the Italian Embassy in London, with the Italian Ambassador to the United Kingdom, Alain Giorgio Maria Economides, signing on behalf of the Italian government.

Licudi said that he was “particularly pleased" to have signed this TIEA with Italy. "This agreement brings the total of such agreements signed to 21, with 18 of those having already entered into force. It also underscores the government’s commitment to international standards of cooperation.”

He added that he trusted the agreement would encourage the development of a closer business relationship with Italy. Licudi was accompanied to the signing by James Tipping, Gibraltar’s Finance Centre Director.

It was disclosed that, to date, Italy has signed 97 double taxation agreements including provision for the exchange of tax information, and four TIEAs (the last being with Guernsey on September 5 this year).

TAGS: tax | offshore confidentiality | tax information exchange agreement (TIEA) | Gibraltar | law | ministry of finance | offshore | agreements | Italy

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