Tax Information Exchange Agreement (TIEA) Process Gathers Further Momentum
Two further TIEA’s were signed this week – with Anguilla and with the Turks and Caicos Islands. Ireland now holds about 10% of all the TIEA’s in existence worldwide.
Both of these new agreements are based on an OECD model. They will allow the Revenue Commissioners to request information from their counterparts in both Anguilla and the Turks and Caicos Islands in the context of an Irish Revenue investigation, with reciprocal arrangements for the revenue authorities.
The list of Ireland’s TIEAs is as follows:
- Cayman Islands
- Isle of Man
- Jersey
- Guernsey
- Gibraltar
- Anguilla
- Turks and Caicos Islands
Information exchange is also possible under the auspices of Double Taxation Agreements and certain EU instruments.