Tax Information Exchange Agreement (UK/Virgin Islands)

Friday 29th November 2013 Written Statements

[The Exchequer Secretary to the Treasury (Mr David Gauke)]

An arrangement comprising of an exchange of letters amending the 2008 Tax Information Exchange Agreement (TIEA) with the British Virgin Islands was signed on 28 November 2013 to permit automatic and spontaneous exchange of information. At the same time an agreement was also signed to improve international tax compliance which sets out the precise details of the information which will be automatically exchanged. The text of the agreement to improve international tax compliance has been deposited in the Libraries of both Houses and will be made available on HM Revenue and Customs’ website. The text amending the Tax Information Exchange Agreement will be scheduled to a draft Order in Council and laid before the House of Commons in due course.