TaxCorporate TaxGibraltar wins white list place

Gibraltar wins white list place

Offshore tax centre announces its promotion to the OECD's roster of tax havens entering into 12 or more information sharing agreements, but vows more is to come

Gibraltar

Gibraltar has vowed to ramp up efforts to share confidential information with
overseas investigators, despite gaining a place on the OECD’s white list.

The offshore centre signed tax information exchange agreements (TIEAs)
yesterday with Finland, Greenland and Faroe Islands, bringing its total tally to
13. The move saw Gibraltar gain a berth on the OECD list.

The white list is simply a list of countries that have signed 12 or more such
agreements, but a place on the roster is seen as an endorsement of a tax haven’s
efforts to comply with G20 and OECD recommendations.

“For Gibraltar this is not a ‘numbers game’. We are committed to the
underlying principles of the commitments that we gave,” the government of
Gibraltar said in a statement today.

“Therefore, in addition to these 13 signed agreements, we have already
negotiated and initialled several more, which will be signed when the other
countries complete their internal constitutional procedures for doing so.

“Our offer to sign a TIEA with whatever country wants to sign one with us
remains open.”

Gibraltar added it held fire on signing the agreements, until Switzerland,
Luxembourg and Austria accepted tax information exchange principles to ensure ”
a level playing field” was established.

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