Gibraltar signs tax information agreement with US

Gibraltar has signed a tax information sharing agreement with the United States ahead of today’s G20 summit.

The tax haven had previously signaled its intent to cooperate with global moves to exchange information on tax matters and today put pen to paper on the agreement, signed by US treasury secretary Tim Geithner and Gibraltar chief minister Peter Caruana.

In the first of its kind for Gibraltar the Tax Information Exchange Agreement with Gibraltar will provide the United States with access to information it needs to enforce U.S. tax laws, including information related to bank accounts in Gibraltar.

‘We are delighted that our first agreement of this kind is with the United States,’ said Caruana. ‘Gibraltar is committed to the OECD standard and the offer of such an agreement is open to other countries. Properly regulated exchange of information has become increasingly important. We look forward to co-operating with the United States under this agreement. As part of the European Union Gibraltar already complies with EU standards of financial regulation and exchange of information.’

Further reading:

Gibraltar commits to share tax information

Isle of Man and France sign tax agreement