Tuesday, March 31, 2009

Gibraltar and US agree exchange of tax information

Dow Jones Newswires reported this evening on a US Treasury announcement Tuesday that they have signed an agreement with the Government of Gibraltar that will allow the two countries to exchange tax information.

US Treasury Secretary Timothy Geithner and Gibraltar's Chief Minister Peter Caruana signed the agreement in London in advance of the G20 meetings this week.

The agreement allows for the exchange of criminal tax information relating to any taxable year and civil tax information relating to taxable years beginning after 2008.

Additionally, it calls for Gibraltar to provide the US with information on bank accounts in Gibraltar.

Good to see the 'Chief' has moved very quickly and rather adeptly foiled any problems that were likely in the wake of the US Government and other countries looking at the so called 'fiscal paradises'!

There'll be some worried looks exchanged around Spain's 'elite' when they read about this! What are they going to bang on about now?? Maybe they should focus on where they put their own money!