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.’

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