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Agreement meets OECD standards
The UK has signed a tax information exchange arrangement (TIEA) with Gibraltar, which will allow an exchange of tax-related information to Organisation for Economic Co-operation and Development and international tax standards.
This will ensure that the right amount of tax is paid in each country in the future.
The text of the agreement will shortly be laid as a schedule to a draft order in council for consideration by the House of Commons. It will then also be available from the Stationery Office.
The agreement will come into effect as soon as both governments have completed the necessary procedures to give effect to it under domestic laws.
Gibraltar has also signed TIEAs with the USA, Ireland, Germany, New Zealand and Australia.
