ARTICLE · 15 JULY 2013

Weekly Tax Update - Monday 1 July 2013

Smith & Williamson

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The Government has issued a discussion document setting out its first step towards a new international standard in enhanced automatic information exchange agreements.

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Smith & Williamson

1 GENERAL NEWS

1.1 Implementing the UK's agreements with the Crown dependencies to improve international tax compliance

The Government has issued a discussion document setting out its first step towards a new international standard in enhanced automatic information exchange agreements. It is to conclude agreements between the UK and the British Crown Dependencies (Isle of Man, Guernsey and Jersey) and those Overseas Territories with financial centres (Anguilla, Bermuda, the British Virgin Islands, the Cayman Islands, Gibraltar, Montserrat and the Turks and Caicos Islands). The Government of the UK and the governments of the Crown Dependencies (CDs) and Overseas Territories (OTs) have a shared aim of tackling tax evasion, and see entry into these agreements as contributing towards setting a new standard in international tax transparency.

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