New Zealand and Bermuda are set to sign a Taxation Information Exchange Agreement (TIEA) on the 16h of April.

The TIEA will be New Zealand’s second agreement of such a nature, following the first which is Netherlands Antilles. According to Revenue Minister Peter Dunne others are already under negotiation. This is on top of New Zealand’s 35 Double Taxation Agreements. The TIEA will be signed at the New Zealand Embassy in Washington DC.

According to Mr. Dunne, the TIEA will make it easier for the partner countries to access information about someone residing in either country, for taxation purposes. This will also aid in the process of discovering any assets that have not been disclosed to governments on either side.