BVI Signs TIEA With Canada

As evidence of its continued commitment to transparency in the financial services industry and its compliance with international standards, the British Virgin Islands executed a much anticipated Tax Information Exchange Agreement (TIEA) with Canada on 21 May 2013. The agreement is the 24th such agreement entered into by the British Virgin Islands Government.

The TIEA establishes a formal regime for the exchange of information between Canada and the British Virgin Islands relating to taxes and tax matters. The agreement will take effect once both Canada and the British Virgin Islands have notified the other of completion of the necessary internal procedures required under their respective laws.